This new policy requires the Landlord to provide specific information to the tenant if the Landlord is doing one of the following based on credit:

* denying the lease/rental application * requiring a co-signer or guarantor
* requiring a higher security deposit * requiring an increased rent amount

If such an action is taken based on the tenant’s credit score, then the following information must be provided to the applicant:

* credit score * entity that created the credit report
* date of the credit report * range of possible scores within the model used
* the key factors, not exceeding four, that affected the credit score

For more informatioin about buying, leasiing, selling or property managment, call Premiere Team Real Estate or Premiere Team Management at 512-795-9918

Provided information was taken from many sources such as FCRA, National Tenant Network and other recent articles.

If you wanted or needed to be in a certain area and price range, you only had 4 to 8 choices. Now there are hundreds of recently built and much newer apartments for rent that offer 3 & 4 bedroom floorplans with garages & resort style amenities like a theater, billard/game room, indoor basketball/raquet ball courts, fitness center, business center, steam room/sauna, conference rooms, restuarants, coffee shop & even a convenient store all on the property.

As you can see with all of the newer apartments with their state of the art amenities including the downtown high rises, even Austinites that have be renting for years are as unfamiliar with the Austin’s apartment and rental property market as those who just relocating to Austin, Texas.

There are many factors that go into choosing a place to rent – unlike before when you took whatever you could afford. There are many things that a person who wants to rent in the Austin area including any other city that should consider before making a final decision because it could drastically effect how much you will enjoy living in your new apartment.

Getting with an expert Apartment Locator such a Premiere Team Real Estate Agent who’s service is completely FREE to you and will not effect your rental rate here in the Austin area will save you countless hours of time and will minimize the chances of you getting overwhelmed.

An expert Premiere Team Apartment Locator will sit down with you and evaluate your situation – your wants & needs, area of town & even current or past financial problems. Then will show you all of your options help you weigh the pros and cons, verify the current rental rate, availability and even their move in specials.

Here are some of the most important factors to consider besides the number or bedrooms, unit availability, pet policies, rent and location:

1. Floorplan/location: The way the unit is laid out can directly effect your comfort of living. Where the utility room is located or balcony including which way the unit faces. What if your bedroom furniture was too big to fit into the master bedroom or the sun shined in your living room in the afternoon where you can’t even see the TV?

2. Noise Level/location: Once you have chosen an apartment community, visit it during the evening or on the weekend. If you only visit it during a normal workday, you will not get a true appreciation for the neighbors. Don’t forget – corner unit apartments have less adjoining walls, so they tend not to have as many noise issues, and apartments on top floor don’t have any overhead noise.

3. Age of building/location: While there are many quality apartments that are not brand new, the age of the building is a factor in several things: maintenance and style to name a few. Plus how will it affect the any potential budget savings on rent, the proximity to the location you want and your utility bills. This will help you make the right decision.

4. Amenities/location: Most people have a general idea of what they want & need and sometimes the apartment will offer some features that they never thought of or are already paying for such as a storage unit, gym/fitness, business center with conference room, etc. What about a closer commute or living outside of town where you can get more for your money and use the Metro Rail system.

While there are many factors to consider when renting an apartment in the Austin and surrounding area, the above will definitely reduce the amount of time wasted looking for the wrong place to call home. In order to get the best bang for the buck, call a local area Apartment Locator or if you are moving within the Austin area, call an expert Premiere Team Apartment Locator to get the FREE resources you deserve. Why waste days, time and gas money looking for the 2nd or 3rd best place to live. Keep in mind an expert Apartment Locator knows the area, has all of the amenities, floorplans, availibility & move-in specials at their finger tips.

For additional information or to speak to one of our associates, call 512-481-7010 now.

The landlord has his own insurance which only covers property damage not your personal contents. Furniture, family photos, and coveted heirlooms can never fully be replaced, but by insuring these items you can protect your assets in the event your possessions are stolen or destroyed. The biggest mistake renters make is assuming that, since the landlord is insuring the building they live in, their personal property is also covered.

Here are some important Tips for Purchasing Renters Insurance:
First, familiarize yourself with all the types of policies.

Second, understand the difference between Actual Cash Value and Replacement Costs. Actual cash value will reimburse you for the price you paid for the item. For example, a computer purchased for $1000 five years ago will cost significantly less today. Your computer credit may only be $300. It always costs more, but having insurance that replaces your possessions at the current market value is very wise.

Third, it is always a good idea to document of all of your personal property in order to validate claims. Compile a list of all possessions, retain important receipts, write down serial numbers, and even take pictures or a video of every thing.

lastly, keep a copy of your list with the data stored off site somewhere.  This way if something happens and everything is destroyed you still have the documents you need to make a claim.

It’s quite simple. Over the past 3 years as the economy was on ice, many of the high school and college grads stayed at home to save money and/or were unemployed.

Now since the local job market has improved, many young adults are flying the coop to claim their independentence.

With this in mind, There are a limited amount of housing available due to the lack of multi-family building. Thus, high demand and low inventory yields higher rent prices.

In summary, if you expect to live in the Austin area for at least 3 years or longer, we strongly advice you to buy a home or condo.

For more information or a detailed rent vs. own analysis based on your situation, call Premiere Team Real Estate at 512-794-9914.

Austin, Texas
Northwest – NW
Active – 11
ADOM – 27
Average Lease Price – $1,321

North – N
Active – 8
ADOM – 28
Average Leased Price – $1,422

South – 10n & 10s
Active – 13
ADOM – 18
Average Leased Price – $1,296

Southwest – SWE
Active – 11
ADOM – 20
Average Leased Price – $1,529

Pflugerville,Texas – PF
Active – 22
ADOM – 20
Average Leased Price – $1,241

Round Rock, Texas – RRW & RRE
Active – 40
ADOM – 23
Average Leased Price – $1,320

Cedar Park, Texas – CLS & CLN
Active – 35
ADOM – 25
Average Leased Price – $1,344

Please note that this information should be considered reliable based on statistics taken from Austin Board of Realtors, I cannot guarantee it. For up to date statistics and availability, call 512-794-9914

What does this mean? Supply and demand – Less homes and apartments for rent means rising rental rates and fewer choices. In fact, as of today there are only 120 homes for rent through out Austin, Cedar Park, Leander, Pflugerville and Round Rock, Texas.

The average rental rate is $1380 per month on an 3 to 4 bedroom home and homes for rent are leasing in 24 days.

What should you do? Find a place you really like and try to get a long lease term to lock in your rate. If you know you are going to be in the Austin, Texas area for at least 3 to 5 years, now’s a great time to consider buying versus renting.

For more information and a FREE consulation about buying versus renting based on your situation, call Premiere Team Real Estate today at 512-794-9914.

There are currently only 149 3 to 4 bedroom homes for lease, down around 60% from last month alone. Rental homes are still leasing out within the same time, around 23 days on average.

The average rent for a 3/4 bedroom home is now up around 10% to $1465 a month.

Compared to apartments in the Austin, Cedar Park, Leander, Pflugerville & Round Rock, Texas areas, rental homes are still a value as long as you need a yard.

If not, there are many 3 and 4 bedroom apartments available between $1100 to $1400 a month that come with a garage, FREE cable & partial utilities, a fitness center, resort style pools, internet cafe, theater and more. For more information or if you would like to get a list of all available apartments and homes for rent, call anytime 512-481-7010.

Stats taken from Austin Board of Realtors (MLS) on 3/21/11

The average single-family home sales price in Cedar Park and Leander, Texas dropped roughly $3,000 by year end 2010 compared to 2009. That’s nearly a 3% drop in home value.

At the same time, the amount of available rentals comparded to the number of renters better known as occupancy rate increased over 8% in Cedar Park and Leander, Texas and over 4% in the Austin Metropolitain area.

Even more interesting is rental prices rose over 7%.  That’s a huge increase when you consider home buyers were able to get home loans at an average interest rate around 4.25% in 2010.

When you consider renting vs. buying, what does this information tell you to do?  Before making a decision to continue to rent or buy, get FREE consultation from an experienced Realtor at Premiere Team Real Estate.  Call 512-481-7010 or contact us anytime.

source: Austin Board of Realtors (MLS) February 2011

Renting an apartment or house is best for people who move around a lot , not sure where you want to live or can’t save money.  Having said that, if you move around a lot but you can qualify to buy a home that will bring cash flow and/or appreciation then you should buy.  Also, people that are in a higher tax bracket and interest rates are below 7 % should buy.

Overtime, real estate has increased in value even though there have been many years of ups and downs along the way.  At the same time one must consider both options carefully because current interest rates, required down payment, up keep and rental rates will affect the true advantages of home ownership.

For more information, check out Rent vs. Buy or contact us for FREE consultation.

In fact, the most common reason was maintenance free living.   Let’s face it, in todays modern times most people relocate more frequently due to their jobs and when they get home they don’t want to worry about having to mow the yard or fix a broken pipe.  Plus, most newer apartment communities have state of the art fitness gyms, olympic size pools, internet cafes, playgrounds, conference rooms, gamerooms and even a movie theater.  All of which can be a huge cost saver and of course a major convenience.

Around 25% percent apartment renters stated they just don’t see the value in owning verus renting if they plan on staying less than 3 to 5 years due to the closing costs associated with buying and selling a property. 

Additionally, recent statistics show it is much more expensive to buy than than rent in highly desired neighborhoods. Renting also allows the renter more opportunity to invest in the stock market, etc. which can provide a higher return on opposed to property ownership especially if one owns for a short period of time.

19 percent of the renters surveyed indicated that relocation flexibility and the lack of a long term commitment was primary reason they choose to rent.  This allows them the opportunity to checkout and really explore other parts of the city or area before making a long term financial committment. 

So what is it, should you rent or buy?  Before you decide, sit down with a real estate professional and explore your options.