Austin vs Nearby Cities
Real estate prices in Austin are higher than in most surrounding cities. The median listing price can rise above $400,000 at times, and the median home value is over $300,000. Some surrounding cities can come close to these prices at times, including Georgetown and Round Rock. Median listing prices are securely below $400,000 in both of these cities, and median home values are below $300,000. For real estate prices closer to $250,000, Texas residents can look in smaller cities close to Austin, including San Marcos and Bastrop.
Austin Property Managers
If you don’t have the time, desire or expertise to efficiently manage your rental property, you hire an experienced property manager. The manager serves as your eyes and ears at the property and ensures that your investment is protected year-round. They manage your tenants and the upkeep of your property while ensuring that the finances are in line.
Austin Property Management Company Fees
Most Texas property managers charge less than 10 percent of the gross rental payments collected each month. Some managers may also ask for a vacancy fee or the full first month’s rent for new tenants that they find. Denying these fees will encourage the manager to keep all units occupied with as little turnover as possible.
- Texas landlords must wait one full day after the due date before charging a fee for late rental payments.
- If a landlord fails to include a clause detailing the late fee in the lease agreement, they cannot legally charge a late fee.
- If a lease is entered for more than one month, the landlord cannot raise the rental rate until the contract ends.