Austin Apartments

Need to break out of your tired routine and try something new? There's a Meetup Group for that . . .

2010-05-27T07:40:00.000-07:00

Bust a Rut, Austin! is a new Meetup Group for those Austinites looking to share a new experience with other intellectually and culturally curious folks who find their old routine just plain dull! First Meetup is next Friday for a free improv show and coffee happy hour.

http://www.meetup.com/Bust-a-Rut-Austin-Meetup-Group/

City looks to regulate future downtown Austin condo projects

2009-10-02T11:29:00.000-07:00

New buildings may have to have park space, etc. - - - not units from sidewalk to sidewalk.

Austin American Statesman

Wall Street Journal has high hopes for Austin recovery

2009-09-30T13:25:00.000-07:00

The economy is set to roar (or at least limp) back in mid-2010, so it's a good thing that the folks at the Wall Street Journal agree that Austin is the place to be. Check out our very respectable fifth-place standing in the new article.

The Next Hot Youth-Magnet Cities

Time Warner Cable to begin metering out the GeeBee's . . .

2009-04-08T22:01:00.000-07:00

TWC is rolling out pay-per-gig restrictions on their cable Internet customers this summer. (Sometimes I wish we weren't such an obvious choice for "test marketing.") Supposedly if you have the Price Lock Guarantee, you won't be affected.

Check out Statesman tech writer Omar Gallaga's blog from Austin360.com. I'm linking to the April 01 posts because that's where a lot of the more pressing questions are answered (or conspicuously not at all.) You can click on the links at the top of the blog for newer updates.

Does anyone know what ATT U-verse's position is on all this? I'm thinking of making the switch anyway.

Omar Gallaga's Digital Savant Blog - Austin360.com

Arboretum, $499 with W/D connections

2009-04-08T20:19:00.000-07:00

1BR in Arboretum for immediate move-in, crazy special at $499/month. Email me for details. These pics are from the larger model but you can see the construction style.

2BR specials on Brodie Ln

2009-04-03T14:49:00.001-07:00

There are a couple of really hot specials in the area near the shopping on Brodie Lane. The managers have asked that I don't post pics or exact prices but if you're looking to move into that area between now and June 7th, email me at Bradley@BradleyPounds.com or call 512-736-3353.

Stimulus money being used to upgrade public housing apartments

2009-04-03T14:05:00.000-07:00

Interesting piece. Thanks to Fox 7 for this.

$1395 - 2/1.5 Remodeled two-story condo available for lease May 1, Lightsey Rd, 78704

2009-04-03T13:41:00.000-07:00

Here's a new listing of mine that's pretty hot. Two bedrooms, half bath down, luxury full bath up, with granite countertops and hand-scraped wood floors abound. Let me know if you'd like to see.

Bradley@BradleyPounds.com

512-736-3353

Northwest Austin property named in Fair Housing and Americans with Disabilities Act-related lawsuit

2009-03-05T13:50:00.000-08:00

As Texas Real Estate agents we're educated on the leasing and sales end of the Fair Housing Act and how to look out for potential violations. But it was news to me when I found out that the act could be cited when suing for issues relating to construction. Check this out from Austin Business Journal regarding a large complex on Parmer Lane, Jefferson Center.

Austin Business Journal

Correction: That particular version of the article is from the Dallas Business Journal.

West Campus condos in trouble?

2009-02-19T12:03:00.000-08:00

I'm hearing some fellow agents chatting about possible pricing drops on West Campus condos because of the cheaper new housing offered by the new private dorms. Anyone have anything to add?

Decoding the Austin Energy Star Chart: What it means to have a 3-Star, 4-Star, or 5-Star rated home

2009-01-09T13:29:00.000-08:00

When working with buyers looking for an energy-efficient single-family home, I've often had to cop to a bit of ignorance when it comes to Austin Energy's rating system of stars. What makes the difference between a 3-Star, 4-Star and 5-Star system had me puzzled.

That was before I found this handy (if a little dense) 65-page report on specific requirements and overall point values for the rating system. Here it is, in PDF form.

http://www.austinenergy.com/Energy%20Efficiency/Programs/Green%20Building/Participation/singleFamilyHomeRatingGuide.pdf

On the move with Craigslist

2009-01-07T10:44:00.000-08:00

When you think of moving companies, you might think of the ones with the professionally painted big trucks like All My Sons, Longhorn Movers, or Apple Moving. Maybe it's a symptom of the economic downturn, but there sure seem to be a lot of new "couple guys and a truck" moving operations popping up in the "Services - Labor/Move" section of Austin.Craigslist.Org.

Here are some interesting ones:
**SUPER MAN MOVING**HERE THER ANY WERE**HERE TO SAVE THE DAY*$45HR* - (((#512-300-xxxx#)))
Muscle Man Moving Labor - Great Moving Labor For You From $25/Hour.... - (Austin+++ 512-577-xxxx)

but my personal favorite:
MOVING??? Call FIREFIGHTER MOVERS !!!!!!!!!!!! (Austin / Surrounding area)

Apparently, they're all off-duty firefighters. The best part: you get to provide the truck!

(Please keep in mind I have no relationship with these operations and I have no knowledge of whether they're bonded or insured. Buyer beware!)

A Wall Street Journal commentary on the Austin rental market . . . with a little perspective.

2009-01-07T09:31:00.000-08:00

The Wall Street Journal Online ran a piece over the holidays highlighting the coming "glut" of apartment units about to hit the market in 2009. The implied consequences are reduced rent, greater negotiating power for prospective tenants, etc. The numbers are solid but there's a lack of context here.

First of all, the majority of the product is geared toward a special buyer. Either a luxury downtown tenant downtown (think of how many of the cited units were brought to market by projects like Monarch, the new rentals by the YMCA, the two new Gables towers opening in 2009, etc.) or a luxury outlying buyer (new Alexan properties on 2222/360, Southwest Parkway.) Where's the more basic but competent accommodations for wage-earning folks who need to live within five to eight miles of the central business district?

Check out the WSJ post below. I'd like to hear your conclusions.
WSJ ONLINE POST

"I feel like I'm back in the old days . . . "

2008-09-09T17:34:00.000-07:00

Now, in my years dealing with not-so-new, aging or sometimes just plain old apartments, I've never heard of THIS:

KEYE-TV
http://www.keyetv.com/mostpopular/story.aspx?content_id=08b23fd9-e3fa-40cc-bbcd-f2619f52b641

Wow. Wow. Wow. AKOYA 4-Star Energy-rated loft project. Wow.

2008-07-02T12:24:00.000-07:00

Fabulous AKOYA loft in trendy 78704, SOLA district. There are really few words to describe the quality of this finish out - - - you won't see much of this level of decor outside of a professionaly designed downtown loft space.

2 bedroom / 2 bath

Stainless appliances

Hardwired for surround

Glass tile kitchen

Uber-cool one-barrel Euro-style washer/dryer combo

Let the pictures speak for themselves!

$1600/month, available now!

Bradley Pounds, agent

Five Star Texas GMAC Real Estate, Broker

512-736-3353

http://www.bradleypounds.com/

Bradleypounds.com is now up!

2008-06-04T14:52:00.000-07:00

Check out my full-service real estate website, http://bradleypounds.com

Can I get a new lease if I've broken one in the past?

2008-04-23T14:29:00.000-07:00

(This is an entry that first appeared two years ago but it seems that I'll be posting it every so often because this is such a common question.)

The answer is yes and no.

Big managed apartment complexes tend to stick together on this one. If you've wronged one property, don't count on another doing business with you until the debt is resolved. But if you're not in a position to pay the old debt, we just need to look elsewhere. Don't forget that Austin is full of individually owned condominiums, duplexes and even garage apartments for lease. Often times these individual owners will be more willing to take a chance on someone with less-than-perfect rental history. If you've found yourself in this situation, email me at bradleypounds@aol.com and I'll begin looking for a more easy-going landlord.

My favorite furniture bargain basement

2008-04-23T11:44:00.000-07:00

I'm all about sharing secrets for making apartment life more appealing, so here's my favorite and little-known hot spot for finding great deals on furniture.

Aaron's Rents locations services all kinds of buyers, from individual rent-to-owners to corporate leasing entities. The corporate leasers require that their rental furniture be in really good and pretty new condition, so after the furniture is rented for just a few months, it can't be used again. So it has to go back to Aaron's to be sold in the Clearance section of the store.

The pieces are generally in great condition and are sold for next to nothing. The colors are pretty neutral in most cases.

Here's the store info:
9821 N IH35 SERVICE RD SUITE A AUSTIN, TX 78753 Phone 512-837-2944

If anyone cares . . .

2008-04-16T15:57:00.000-07:00

. . . the pricing is in for Gables Westlake.
Check it out here.
http://www.gables.com/gablesliving/floorplanlistings.aspx?Region=2&CommunityId=55

Major savings in South Austin, act fast

2008-04-16T15:49:00.000-07:00

Everyone knows newer, quality apartments down South are more expensive than in North Austin but I have a couple of rare move-in specials on South-side Class A units. Email me for details, bradleypounds@aol.com.

Super-cute 3/2 HOUSE for $1150 near Manchaca and Stassney.

2008-04-01T20:32:00.000-07:00

This house is fantastic and I can't believe no one has leased it yet. There's nothing else in this great shape for under $1400 in that neighborhood (quiet Buckingham Estates.)

Email me if you want some pics.

BradleyPounds@aol.com

Aging student units to get facelift

2008-04-01T20:27:00.000-07:00

Riverside seems to be getting all the attention these days, doesn't it?

Some aging student housing units will be getting a face lift from new out-of-state owners. This promises to brighten up the neighborhood but won't do much for the area's affordability factor.

Here's the article from The Daily Texan.

Update on East Riverside development

2008-04-01T20:19:00.000-07:00

Here's an update from the Statesman about the revitalization of Lakeshore Drive, near Riverside Drive and Lady Bird Lake. The new plans haven't been submitted to the city but reportedly will now involve retail (presumably replacing ground floor apartment units.) I'll post the details as they become available.

Austin American-Statesman

South Congress condos for $97,000. What's the catch?

2008-03-07T12:03:00.000-08:00

The 2020 Congress apartment complex (circa 1960's) has long offered an affordable alternative for living the SoCo dream. But alas, they're being sold as condos, with the small 425 sq ft units being sold for a little less than $97K.

I'm interested though, to know what improvements have been made to the units in preparation for sale. The last time I showed these for lease, they were on a central cooling system. Not to be confused with Central Air / Central Heat, the system was a single cooling unit that was switched from "Heat" to "Cool" once a year. Wildly inappropriate for Texas weather, obviously.

Anyone have any info on the plans (or lack thereof) to convert them to single HVAC units?

STEAL: West Campus pre-lease 2/1, August '08

2008-01-30T22:38:00.000-08:00

A few years ago, I predicted all the new build in the West Campus neighborhood would cause prices in the 1960/70s-built apartments to drop slightly or at least level off for a few years.

I couldn't have been more wrong. The new rentals instead built momentum for the campus area, giving extra incentive for students to bunk two to a room to remain in the heart of things. But in the midst of all that, I still have one an undervalued option near MLK and Guad that's giving 2/1's away for $1050.

Lease starts in August, I'll get the exact date for you if interested.

Just got the heads up on it today, so if you want it - - - let's roll!

Email me: BradleyPounds@aol.com

I never got around to opining on the 'progress' at East Riverside/Lakeshore . . .

2008-01-30T22:08:00.000-08:00

"The complex cost of change . . . " is how the Statesman described the developer-driven revitalization effort on South Lakeshore Boulevard. Hundreds of apartment units have been mostly torn down to make way for condo projects, while the others have simply been gutted down to the studs to build more "affordable" condominiums.

The price of progress is high for the hundreds of low-income renters who were displaced, many of whom have been East Riverside residents for decades. With the newer E. Riverside product now priced more like S. MOPAC, many have since headed north for Cameron road or Rundberg/far North Lamar, where the availability of similarly priced housing is better.

Here are two news articles from 2007 that deal with the changes.

http://www.statesman.com/business/content/business/stories/realestate/11/25/1125amli.html
http://www.austinchronicle.com/gyrobase/Issue/story?oid=oid%3A538028

$1150: 78704 updated duplex unit, 2/1 with granite and stainless apps

2008-01-24T16:24:00.000-08:00

Updated duplex near the fun part of South Lamar (Del Curto) for 1150. 2/1 with granite + stainless steel appliances, looks fresher than it's 1972 exterior suggests. 78704 is hard to get in at this price so email me if you want it.
BradleyPounds@aol.com

STEAL THIS: $895. Cute 2/1 condo on S. 1st, close to shops

2008-01-24T16:20:00.000-08:00

It ain't giant but I've found a 2/1 condo on South 1st street between downtown and Ben White for $895. Deal with the small bedrooms and no washer/dryer connections. Location, location, location! Email me if you want it. Cheap for 78704. BradleyPounds@aol.com

Teaser: Timeline set for Mueller apartments

2008-01-24T15:00:00.001-08:00

(Austin) - Simmons Vedder & Co. has been selected to build the second mixed-use multifamily component at the former Robert Mueller Municipal Airport. The new project, adjacent to the future town center, will have more than 275,000 square feet, with four stories and 300 one- to three-bedroom units. It will also have two-story live-work units with commercial space on the ground floor. Groundbreaking is scheduled for next summer, with completion in 2010. Ten percent of the apartments will be reserved for families that make 60 percent or less of Austin's median family income. The project will achieve at least a two-star rating under Austin Energy's Green Building Program. Simmons Vedder & Co.'s first apartment project, Mosaic, is under construction at Aldrich and Ragsdale streets.[Austin American-Statesman]

Rising rent figures are in . . .

2008-01-24T14:58:00.000-08:00

Prices for apartment rentals in Austin are on the rise as occupancy rates increase, according to Capitol Market Research. One-bedroom apartments have increased to an average of $714 a month, about $100 more than they cost two years ago. Two-bedroom, two-bath units are up to $938, also about $100 more than two years ago. The market is seeing a mix of newcomers and renters who are shopping around after their rents were raised. Strong job growth in the past 12 to 18 months has also kept the apartment market healthy. Charles Heimsath, president of Capitol Market Research, predicted that occupancy rates will hold at 96 percent this year. Heimsath predicts Austin-area rents will rise 5 percent to 6 percent this year, with ample demand to fill the estimated 6,000 units that are expected to open. Last year, the market absorbed 5,600 units. [Austin American-Statesman]

I'm back!

2008-01-24T14:55:00.000-08:00

After a long foray into the wild world of new home sales, I'm back to leasing and ready for you renters. I'll be updating much more frequently, starting with some market news right away.

Think rents went north this year? Just wait til 2007 . . .

2006-12-13T22:40:00.000-08:00

. . . says a report quoted by the Ausitn Business Journal. The article sites a market research firm that believes this year's 2.7% increase in effective rents (the actual rate you pay, after any discounting) will be overshadowed by a 5% rate increase next year.

Read it for yourself.

Rare as a Betamax . . .

2006-10-18T15:01:00.001-07:00

1BR house near Crestview - - - $595It's old and I'm sure it feels older but if you're into this sort of thing, let me know right away. It's a 40's holdover and doesn't appear to be updated at all. Hard to find!

BradleyPounds@aol.com
512/736-3353

Hard to find Allandale - - - Here it is!

2006-09-20T15:09:00.000-07:00

I hope I get to lease this one. Allandale has been so hot for the last year or so that every time I think I've got a lease in the bag, some other agent gets his application in first.

Bedrooms: 3
Bathrooms: 1
SQ FT: 1064 (per MLS)
Price: $1200/month

BradleyPounds@aol.com
512/736-3353

$750. West Campus 1 + Loft

2006-08-04T08:38:00.000-07:00

Listing agent refers to it as a poor man's 2-bedroom. I can see it. Small bedroom downstairs, plus loft upstairs, can fit two students in Manhattan-style comfort right by campus!

Available now! Hardwoods downstairs. 2815 Rio Grande. Gazebo condominiums, #214.

Let me know if you're interested, I'll get you in.

Best wishes.

2006-08-04T08:28:00.000-07:00

to those 30 residents affected by the fire at the Georgian Apartments last night. I drove by as the AFD was spraying water down from the 80 ft water cannon. What a mess. Good luck to you guys and hope you're not down for long.

Another reason for renter's insurance! $15 bucks a month, people.

Bet you didnt know (but could have guessed) . . .

2006-07-27T08:58:00.000-07:00

. . . that Austin is a step ahead of the federal government in protecting the rights of gay renters.

Here's the summary of the Fair Housing Act as it stands:
Title VIII of the Civil Rights Act of 1968 (Fair Housing Act), as amended, prohibits discrimination in the sale, rental, and financing of dwellings, and in other housing-related transactions, based on race, color, national origin, religion, sex, familial status (including children under the age of 18 living with parents of legal custodians, pregnant women, and people securing custody of children under the age of 18), and handicap (disability).

What's it missing? You guessed it. No protections for gays or persons dealing with gender-identity issues. But here's where Austin differs.

From Texas Realtor Online, 04/04:
As noted previously, Austin prohibits discrimination based on sexual orientation, defined as “an individual’s sexual preference or practice including homosexuality, heterosexuality, and/or bisexuality.” Clearly, in Austin a landlord may not reject a tenant solely because of the prospective tenant’s sexual orientation. However, most other local jurisdictions in Texas have not adopted a comparable ordinance.

In fact, for all of us too young or too new to remember, in 1982 the issue came up for a hotly contested vote, in which locals handily voted down a measure to allow tenants to discriminate on the basis of sexual orientation.

See this article in the New York Times for a little flashback.

Repost: Sex offender database info

2006-07-18T06:39:00.000-07:00

The summertime leasing season is nuts all around but some of my clients have an extra concern this time of year. As the kids prepare to go back to school, I always get the same info request from worried parents as we shop for rentals.

So here again is the link for the searchable database of registered sex offenders in the Austin area. While most of the managed complexes simply won't rent to felony sex offenders as a policy, it doesn't mean they're not occupying the 4000 sq ft mansion next door. Don't kid yourself. Check it out.

APD's sex offender database. (Registration Required.)

When's the last time you saw a 1BR duplex?

2006-07-17T15:57:00.000-07:00

I just got a lead on a 1BR duplex in Crestview if anyone is interested. It looks funky and cute and the neighborhood is hot. Hardwoods. Tenant in there now but out by the first. Here's a pic.

Email or call me if you like.

BradleyPounds@aol.com
512/736-3353

"Rents are still quite low . . . " ---- Are you kidding me?

2006-06-27T17:15:00.000-07:00

Check out this Statesman article that attempts to explain, albeit topically, why your rent has gone up $100 bucks in a year and a half. The argument that high construction costs prevent developers from building new rental units in the Austin area doesn't hold water with me. Those conditions were true in the late nineties through 2000, when the same report mentions that 10,000 new units were added.

What am I missing? Thoughts?

Austin American Statesman

Large Arboretum 1/1 under $600

2006-01-31T09:00:00.000-08:00

Hidden community in the Arboretum area (but off of the Jollyville retail strip) has one 700 sq ft unit coming available next week. Comes with washer/dryer already in unit. $575/month.

Cute 2/2 Round Rock condo with 1-car garage, $825

2006-01-18T17:58:00.000-08:00

Here's a cute condo for lease on the north side of Round Rock. 880 square feet 2BR/2Bath, comes complete with 1-car garage and a washer, dryer included. New construction - - - carpet, tile and paint all fresh. Available immediately but owner negotiable on possession date.

More info: BradleyPounds@aol.com.
512 / 736-3353

What the hell happened to Bee Cave?

2006-01-11T09:32:00.000-08:00

A couple of months ago I ran a piece on the blog that was favorable of the Hill Country Galleria development, mainly because it's bringing a few hundred new apartment units online. This weekend, I finally made it down to the site for a quick survey of the development.

The result is sickening. You have to go see it for yourself. The shops don't look any better than the rows of boxes that make up the inevitable OLD NAVY / Best Buy / PETCO combinations of Cedar Park or Anywhere, U.S.A. And they're directly adjacent to The Backyard music venue!

The town is ruined. Here's what I should have been reporting.

The Austin Chronicle: News: Westward Ho!

What was so great about 1997?

2006-01-05T09:05:00.000-08:00

Austin's Green Builder program heavy-handedly influenced the way we build apartments in Austin. And thank God for it.

In '97 the program guidelines went into effect, with a few key building codes that help keep energy bills much lower than older units built without the regulations. Sure, the materials restrictions keep all the new stuff looking pretty homogenous, but look what all we picked up:

Two ceiling fans per unit
12.0 SEER high-efficiency air conditioners
Gas combination space/water heating systems
Interiors painted with healthier paints
Insulation and sheathing made of materials that don't harm the ozone layer
Concrete with 15% flyash content (a by-product of coal-burning power plants)
Siding made from recycled materials and cement (Hardiplank)
Landscape irrigation will not require use of city water/sewer
Excess construction materials donated to Habitat for Humanity
Concrete paving (instead of asphalt) on parking lots and sidewalks to keep the outdoor areas cooler

All this adds up to a reduced fixed monthly cost for the tenant because of much lower energy bills. So next time you think you're saving $50/month for going with the '80s built property, think again.

Looking for a new place? Let me help. BradleyPounds@aol.com.

Properties beginning to feature wi-fi access as incentive for renters

2006-01-04T10:50:00.000-08:00

Can anyone verify that you access wireless Internet on your property's dime? I found a list of hotspots that includes several apartment complexes (mostly downtown) that offer wi-fi access but I've never heard this as part of the leasing pitch.

Here's the link to the short list. Let me know if you live somewhere that's not listed as well.

Austin Wireless Internet

BradleyPounds@aol.com

If you've ever considered working in the apartment industry . . .

2006-01-03T09:43:00.000-08:00

. . . the best resource is easily the Austin Apartment Association. They have an extensive job bank full of positions at local properties and they'll handle getting your resume into the right hands. Don't disqualify yourself from a leasing position because you don't have experience. It's all aout the image, personality and attention to detail. You may have to start off at a small property instead of a big corporate shop, but turnover is so high that you can expect to get upgrade quickly if you're good at it.

The job bank isn't searchable online so think of it as more of a matching service. Here's the page with instructions of where to send what.

Austin Apartment Association job bank

Payin' the bills . . .

2005-12-30T11:43:00.000-08:00

Please help support the blog by visiting our banner advertisers. Their websites are much cooler than mine.

Tell your rich uncle to build some more apartments.

2005-12-29T09:40:00.000-08:00

The Statesman reports (again) that the demand for rental units will outpace new construction once more in 2006. Translation: rents are going up and your locator is your best friend. Or your worst, commission-obsessed enemy.

Austin-American Statesman article

Barton Springs & South 1st. Cute and cheap. February.

2005-12-29T09:22:00.000-08:00

A downtown apartment for under $700/month? Those units are the stuff of fables these days. You're more likely to get served by BigFoot next time you're at Chuy's. But the folks at Rainier still make it happen (even though they *could* be getting at least $100 more per unit, ssshhhh.)

I'm showing three units coming up in February at The Willows at Barton Springs and South 1st. Cute 1BR's with pergo floors and FREE CABLE. Yay!

Here's the breakdown
1-1 572 sq.ft. $625
1-1 596 sq.ft. $650
1-1 596 sq.ft. $675
More info:BradleyPounds@aol.com
512 / 736-3353

If you have a question . . .

2005-12-09T13:45:00.000-08:00

Please don't forget to leave an e-mail address or log in to the blog so I can respond to you privately.

Arboretum 1/1, $550

2005-12-09T13:17:00.000-08:00

Small community in Balcones Woods area near Arboretum has 1/1's available for $550. 623 square feet, cute little place. Tennis court in good shape too. Here are a couple of pics of the model.

Good news if you're looking to move downtown - - in '08.

2005-12-08T19:15:00.000-08:00

AMLI Residential is finally going to break ground on their second apartment building in the new 2nd Street District. But this one will dward the other - - - at 18 stories tall. Leasing begins in '07 with units online in '08.

Austin American Statesman Article

Can I get a new lease if I've broken one before?

2005-12-08T10:16:00.000-08:00

(This is an entry that first appeared last month but it seems that I'll be posting it every so often because this is such a common question.)

The answer is yes and no. Big managed apartment complexes tend to stick together on this one. If you've wronged one property, don't count on another doing business with you until the debt is resolved.

But if you're not in a position to pay the old debt, we just need to look elsewhere. Don't forget that Austin is full of individually owned condominiums, duplexes and even garage apartments for lease. Often times these individual owners will be more willing to take a chance on someone with less-than-perfect rental history. If you've found yourself in this situation, email me at bradleypounds@aol.com and I'll begin looking for a more easy-going landlord.

Funky, small and cute.

2005-12-08T09:29:00.000-08:00

Who can live in 480 sq ft? Well if it's cheap and in the Lake Austin Blvd area, a lot of us would be willing to make it work. This little unit has lots of character, not to mention free extended cable. Map 700 Hearn if you want the exact location. Easily stumbling distance from Maudie's or Magnolia.

More info: BradleyPounds@aol.com,
512-736-3353

This can't be good. At least not yet.

2005-12-06T20:54:00.000-08:00

Austin Business Journal reports that Austin is in the top 10 apartment markets for investors. Why? Rents are going nowhere but up so existing properties are becoming hot commodities. The upside is that the second wave of investors will likely bring new construction and cheaper units with it. Likely.

Austin Business Journal

Stickin' it to ya: The myth of the reletting fee

2005-12-06T20:07:00.000-08:00

Breakin' up is hard to do. Especially if you're a tenant who needs out of your lease early and your scorned lover is Megalopolis Management Consortium, Inc.

"But my Texas Apartment Association lease clearly states that if I pay 85% of a month's rent, I can get out of my contract,right??"

Not so fast. If your property is like most others in Austin, the 85% reletting fee is just the beginning. You'll also continue to pay rent on the place until a new tenant has moved in. In all likelihood, you'll also have to repay the concessions that you've used on the place. Example: On a 12 month lease, Jane received two months free, which she used up front to ease the expense of moving into her new $900/month pad in the Arboretum. Nine months into the lease, Jane decides the downtown life is for her and wants out of her contract. It continues to sit on the market for 15 days after she breaks the lease and moves.

Jane is screwed. After the reletting fee, concessions and pro-rated rent are totaled, Jane now owes the property $3015.00. Minus her $200 deposit, she's still screwed. The remainder is on her credit for seven years, and she can't lease another apartment until she pays up.

Read the fine print. Sorry Jane.

Arboretum steal: Village Oaks

2005-12-02T10:27:00.000-08:00

It's good to see some of the folks on Jollyville taking an interest in their property by freshening up that 1980's look that the whole street has going on. And not passing a whole heck of a lot of the cost onto the renters. Village Oaks has a few 1+study units that measure 800 sq ft and range in price from $615 to $699, depending on the degree of upgrades that have been installed. The other photo shows the proximity of the property to shopping and business area (it's located at the traffic light in the center.) It's something to think about for our renters without transportation - - also there is a bus stop directly across the street to the left of the frame.

More info: BradleyPounds@aol.com

My Lake Travis Barbie Dreamhouse - - Donations accepted! ($1850/month)

2005-11-18T12:53:00.000-08:00

This is as good as it gets folks - - - cheers to rock star agent Bill Mills with Austin Fine Properties for forwarding this on to the blog.

Two separate units in duplex style condo development. Absolutely stunning luxury, pictures speak for themselves!! Available December 15 but somewhat flexible. Pets allowed. Call Agent for Inquiry.

From the MLS:
Custom built luxury condo in the heart of lakeway, 3/2.5 plus office nook, built ins, wood burning fire place, all appliances including washer/dryer spacious 2 car garage, fenced back yard. Feels like a house-lots of living space inside and out.

More information: BradleyPounds@aol.com, agent
512/736-3353

Stickin' it to ya: Water allocation.

2005-11-18T08:50:00.000-08:00

I'm starting a new feature here on the blog called Stickin' it to ya. Basically it's an ongoing cautionary tale on hidden traps that cost you money or just cause rental-induced migraine headaches.

First up is water allocation, a fancy term for the way your water bill is assessed. In almost all newer complexes (1993+), the water is submetered, so you only pay for what's used inside the walls of your unit. You can't really argue with the fairness of that system.

In what we call Class B and Class C properties ( everything before '93, give or take a few years), the water is often on an average allocation system, which means that the complex receives one giant water bill and averages it out among its residents. By itself, that isn't terribly unfair . . .

But here's how some properties stick it to ya. Also averaged in the assessment for each unit is the pool water, lawn maintenance water, and whatever the office uses. Not all Class B and C properties include these but it happens more often than not. The result can be a water bill of $20 to $25 bucks a person. So if you're a Mom and Dad with two rugrats in the second bedroom, look forward to an $80-$100 water bill that must be paid with the rent. Since you owe the apartment complex in this situation, not only could the utility service be terminated for non-payment, but you could face eviction as well.

South Congress condo special, $900 + free cable/water/trash/washer/dryer

2005-11-17T13:39:00.000-08:00

These don't come up often, and I'm always getting requests for the South Congress area, so here ya go. The prime-located Travis Oaks condo complex has a large 2/2 for lease (990 sq ft) that's available immediately. Washer and dryer come already included in the unit and cable, water and trash are paid. It's won't stay on the market long so call me if you want to nab it quick.

More info: BradleyPounds@aol.com
512/736-3353

Are you missing out on a discount on your energy bill?

2005-11-17T00:44:00.000-08:00

Austin Energy says only 5,000 Austinites are taking advantage of a deep utility discount that about 30,000 are eligible for. If you've qualified for a number of other programs for low-income individuals or families, you will automatically qualify for the discount. Here's a link to the appropriate Austin Energy page with a few numbers you can call to see if you qualify.

Thanks to Olga Campos and KVUE for bringing this to our attention.

Austin Energy Payment Assistance

KVUE News Story

New project update: apartments to be included in Galleria

2005-11-16T11:03:00.000-08:00

Looks like the Hill Country Galleria will finally break ground soon - - and will feature 300+ luxury units.

Here's the link to the Statesman article
Austin American Statesman.

I'm an uncle!

2005-11-16T09:26:00.000-08:00

Sorry the posts have been slow over the last week, I've been back and forth to East Texas to visit my brand new nephew, born last Thursday. Pictures to come soon!

Apartment newswatch: Brad's prediction

2005-11-12T10:13:00.000-08:00

UT Shuttle communities are next year's bargains.

Beginning next August we're going to see deep discounting on Riverside Drive and Far West Boulevard. It will be subtle at first but as May 2007 approaches, the bottom is going to fall out of pricing on those areas. What's happening is this: condo and apartment developers are going NUTS in West Campus and more projects continue to be announced. We're looking at mainly 3 and 4 bedroom units in upscale, expensive developments. The price won't deter the students though; it actually exacerbates the problem because students start packing them in two to a bedroom. Couple this trend with UT's firm resistance to growing its student population and UT shuttle communities are sure to face leaner times.

The first units to be affected will be 1 and 2BR units on Far West and Riverside, while the larger units with individual leases on each bedroom will be the last to feel the pinch. Hardest hit will be 1BR's on Far West - - - twenty year old units with no washer/dryer connections. I think we will see not only reduced rents but first month free specials by 2007. Or if the remainder of the Austin market stays strong, you'll see a few properties stop marketing to students at all, and perhaps even a few disappearing UT shuttle routes.

Thoughts?

New move-in special announced (Far North)

2005-11-09T12:18:00.000-08:00

The Cunningham has recently gone under a management change and a makeover. It's got some cool, airy floorplans and the real perk is that it's on Shorline Drive in Far North Austin. The street begins at FM 1325 and doesn't go directly through to I-35 so traffic is a fraction of that on Wells Branch. Move-in after the 15th and pay only $350 to include deposit, application fee and rent for November. 699 sq ft 1BR's start at $595, 924 sq ft 2BR's leasing for $735.

How pet-friendly are management companies these days?

2005-11-09T12:07:00.000-08:00

The answer is very. Newer, Class A properties are rolling out the red carpet for pet owners with features like enclosed dog runs, as well as potty-bag stations placed throughout the properties. Class B units have retrofitted somewhat but their biggest changes have occurred in the area of policy. Properties built in the 1980's often originally had no pet policy or one that favored small pets only. Many of them have revised their rules to allow for a wider variety of animals. There are also a few properties that have dropped pet weight limits, although these are few and far between.

Keep in mind that there's a guideline that still applies almost universally to Austin area apartment communities, and that is the limit of two pets per unit. Most individually-owned units have the same rule as well, so if you can't limit yourself to two furry friends, you should consider home ownership.

Neighborhood profile: Wells Branch

2005-11-09T10:50:00.000-08:00

The Wells Branch area has long been a favorite of Austin renters for a few reasons. It was planned to be pedestrian friendly, with apartment communities interspersed with various eateries and convenience features like dry cleaners and neighborhood bars. Also, almost every apartment on the strip has not only washer/dryer connections, but already has the units furnished.

The Park at Wells Branch is one solid option in this area. One bedroom specials start at $495 and every apartment in the complex comes with a washer and dryer. More information: BradleyPounds@aol.com or 512/736-3353.

Upscale 2BR special of the week (Far North)

2005-11-09T10:32:00.000-08:00

Riverhorse Ranch has the 2BR special of the week. 919 sq feet for $785. Quiet area, lots of amenities. Built in 2002. The picture on the left shows the tennis courts and the stand-alone workout facility that's second only to Riata's, and behind that there is a sand volleyball court and a dog run.

Walking distance: Two new shopping mini-centers with various eateries to move-in very soon, convenience store.
Within one mile: La Frontera.

More information: BradleyPounds@aol.com or 512/736-3353

Mergers for everyone!

2005-11-03T20:11:00.000-08:00

AMLI sells out to Morgan Stanley, but "plans no changes." From Lavaca to Wall Street, mergers are good for you, says Consolidationbot.

http://www.statesman.com/business/content/business/stories/10/25amli.html

More bad news for Hurricane victims . . .

2005-11-03T17:22:00.000-08:00

Because of bureaucratic red tape, it seems our Rita and Katrina-affected friends will be evicted from local apartments soon. Read this only if your mood-enhancers have kicked in for the day.

http://www.kvue.com/news/local/stories/110105kvueApartments-cb.1afd9ded.html

Can I get a new lease if I've broken one before?

2005-11-03T15:37:00.000-08:00

The answer is yes and no. Big managed apartment complexes tend to stick together on this one. If you've wronged one property, don't count on another doing business with you until the debt is resolved.

But if you're not in a position to pay the old debt, we just need to look elsewhere. Don't forget that Austin is full of individually owned condominiums, duplexes and even garage apartments for lease. Often times these individual owners will be more willing to take a chance on someone with less-than-perfect rental history. If you've found yourself in this situation, email me at bradleypounds@aol.com and I'll begin looking for a more easy-going landlord.

Remington House still giving away the farm (North)

2005-11-03T15:22:00.000-08:00

The north-side budget leader remains Remington House, which has resisted market forces and kept it's price structure relatively stable through the busy leasing season. Best buy: 728 square foot 1BR, $450. (That's about 62 cents a square foot for those of you keeping track.)

Availability is tight and it looks like December 7th is your first opportunity to get in.

Location: Hwy 183 and I-35 (located in cul-de-sac so freeway noise is much reduced.)
Within walking distance: Convenience store, mexican food.
Within one mile: too much to list - - Wal-mart Supercenter, various restaurants.
More information: BradleyPounds@aol.com

Viva Riata!

2005-11-03T15:11:00.000-08:00

At just over 2000 units, Riata is certainly the Big Daddy of the Austin apartment family. It's also my personal favorite (I lived there for years) because of its outrageous list of conveniences. Some of the top spoilers: an 11,000 sq ft private gym that's included in the rent; summer intramural volleyball league; nine pools; raquetball *building*, private mini-lake with soft gravel jogging track, and on and on.

The large number of units online is off-putting at first but Riata divides the 2000+ apartments into eight villages, each with its own village manager for rent drop, maintenance issues etc. Pricing for 1BR's starts in the low $600's, mid-$800's for 2BR's.

Location: Research Blvd and Oak Knoll exit
Within walking distance: Riata Bar & Grill, nail salon, dry cleaners, Tuscany Market and Vineyard (think mini-Whole Foods.)
Nearby: Arboretum, 'nuff said.
Word to the wise: Pavement material changes from the Research access road to Riata Trace Parkway. Take this turn SLOWLY in the rain. Many a rear-wheel drive vehicle has found itself in the bushes on soupy weather days.
More information: BradleyPounds@aol.com

What is "market rent"?

2005-11-03T15:04:00.000-08:00

Market rent is a term used by apartment managers to refer to the "full price" of the unit. It's what the management company identifies as the apartment's true value.

Here in Austin, we almost never pay market prices for the same units. Even though occupancy is high, most properties are still offering price concessions. After concessions, the cheaper price that we actually pay for the unit is called the "effective" or "net effective" rate.

Dakota Springs units soon to come online (NW)

2005-11-03T14:48:00.000-08:00

Pond Springs / McNeil property Dakota Springs will soon have some units online. This photo taken today is the one of the first available and will be ready soon. The property is set to be the most upscale in the neighborhood, with a variety of units offering attached garages and even the smallest one bedrooms pushing 800 sq ft.

Market pricing has been released but probably doesn't reflect intial special pricing. I have some information now, including floorplans, and I'll follow up later as more info becomes available.

Dakota Springs will be the only Class A property in the immediate area, with the next upmarket option being Toscana Apartment Homes near Anderson Mill & Hwy 183.

Location: Pond Springs Road, across from Audi Dealership.
Within walking distance: convenience store, IBM credit union, office space.
Within one mile: Albertson's, Blockbuster, sushi and Mexican restaurants.
More information: BradleyPounds@aol.com

2005-11-03T09:21:00.000-08:00

This is me, your Cruise Director. Not as cute as Julie from The Love Boat, but I'm pretty sure she couldn't negotiate cheaper rents or name the square footages of every floorplan at Riata.

Take that, Gavin MacLeod & co!

Dollar dollar bill, y'all.

2005-11-03T08:56:00.000-08:00

The Austin Business Journal reports that the Austin market has pushed upwards of 93% occupied. That's up 2.3% in the last quarter. Translation: rents are headed north, baby.

While Class A properties (late-1990's build or better) have been sticking it to us for a few months now, look for the squeeze to trickle down to Class B (80's to early 90's) units momentarily. We're already seeing it at big managed complexes down south but luckily most of our privately held units in Central Austin are so far insulated from the shifts. (Could it be they were overpriced to begin with??)