Rents are rising in Austin, in fact 9% in January 2012 compared to January 2011. And as job growth continues to accelerate in Austin, the young and the not so young are on the hunt for rentals.
But not so fast, many who have been leasing in the Downtown Austin area are fleeing the neighborhood as landlords are raising rents as fast as people are moving to town.
I spoke with a “downtown” tenant who informed me that she and her husband are on a month to month lease – which is accelerating monthly and need to find a more economical lease immediately -- but they want to stay CENTRAL. Those less expensive, central Austin leases are hard to find and are typically much smaller, with little or no updating and without the perk of a covered, Downtown parking space or a garage.
This squeeze of available leases will loosen here in Austin as there are at least 5 new apartment projects on the build in the near central Austin area; but if what I am hearing is true, apartments aren’t the answer for those fleeing the high rents of Downtown. Apartments will be perfect for the young “new comers” though -- as they want to try the area on before they commit to buying or signing a longer term lease.
And good luck with that long term lease. Landlords have all the cards right now and few will commit to a long term lease with this ON FIRE lease market.
Negotiating the lease amount – forget it! It is what the market says it is -- and the market says up, up and away.
How long with this pricy lease season stick around? When renters think the housing market has hit the bottom, or when they can qualify for a mortgage, or when they sell their previous home, or when they are more certain about their job prospects, or when they realize buying offers less stress on the monthly budget.
But not so fast, many who have been leasing in the Downtown Austin area are fleeing the neighborhood as landlords are raising rents as fast as people are moving to town.
I spoke with a “downtown” tenant who informed me that she and her husband are on a month to month lease – which is accelerating monthly and need to find a more economical lease immediately -- but they want to stay CENTRAL. Those less expensive, central Austin leases are hard to find and are typically much smaller, with little or no updating and without the perk of a covered, Downtown parking space or a garage.
This squeeze of available leases will loosen here in Austin as there are at least 5 new apartment projects on the build in the near central Austin area; but if what I am hearing is true, apartments aren’t the answer for those fleeing the high rents of Downtown. Apartments will be perfect for the young “new comers” though -- as they want to try the area on before they commit to buying or signing a longer term lease.
And good luck with that long term lease. Landlords have all the cards right now and few will commit to a long term lease with this ON FIRE lease market.
Negotiating the lease amount – forget it! It is what the market says it is -- and the market says up, up and away.
How long with this pricy lease season stick around? When renters think the housing market has hit the bottom, or when they can qualify for a mortgage, or when they sell their previous home, or when they are more certain about their job prospects, or when they realize buying offers less stress on the monthly budget.
November Calendar of Events in Austin Texas
Posted 11-01-2012 at 03:02 PM by Hookemhomes
November is the beginning of a pretty busy season for all of us but if you are looking for unusually fun events, festivals, concerts and learning opportunities -- take a look at the line-up of opportunities in Austin, Texas.
The November weather world in Austin is usually pretty fantastic -- for example it is a beautiful 75 degrees in the “weird city” today. But remember, its Texas and the weather can change very drastically and quickly here.
I suppose the largest event to be held in Austin is F1 -- big statement I know -- coming November 16 through 18. Tickets are sold out and so are hotel rooms and even private residences (now legal in Austin to rent your home as long as you register with the City and pay a hotel tax).
November 2012 Calendar of Events
Leonard Cohen - November 1, 2012
Bass Concert Hall, Austin TX
http://www.texasperformingarts.org/
Signature Chefs - November 1, 2012
Austin Music Hall, Austin TX
austinmusichall.frontgatetickets.com/corp/contact.php
Shaolin Warriors - November 1, 2012
Long Center for the Performing Arts, Austin TX
http://www.thelongcenter.org/
Whiskies of the World® Austin - November 2, 2012
Hyatt Regency Austin, Downtown on the Lake, Austin TX
http://www.whiskiesoftheworld.com/home
Dr. Maya Angelou - November 2, 2012
Paramount Theatre, Austin TX
http://www.austintheatre.org/
16th Annual Austin Celtic Festival - November 3, 2012
Fiesta Gardens, Austin TX
Putting on the Ritz- Austin Children's Shelter Gala - November 3, 2012
Hilton Austin Downtown, Austin TX
http://www3.hilton.com
2012 Komen Austin Race for the Cure - November 4, 2012
Downtown Austin, Austin TX
Regina Spektor, Only Son - November 5, 2012
Bass Concert Hall, Austin TX
texasperformingarts.org/
Primus 3D - November 7, 2012
Bass Concert Hall, Austin TX
texasperformingarts.org/
Snow Patrol & Noel Gallagher's High Flying Birds - November 8, 2012
Austin Music Hall, Austin TX
http://www.austinmusichall.com/
Jackson Browne - November 8, 2012
Bass Concert Hall, Austin TX
texasperformingarts.org/
10th Annual Big Reds & Bubbles - November 8, 2012
Driskill Hotel, Austin TX
www.driskillhotel.com/
InnoTech Austin - November 8, 2012
Austin Convention Center, Austin TX
http://www.austinconventioncenter.com/
Eddie Vedder, Glen Hansard - November 9, 2012
Bass Concert Hall, Austin TX http://texasperformingarts.org/event/vedder
Austin Tequila Fest - November 9, 2012
Casa Chapala Mexican Grill and Cantina, Austin TX
www.casachapala.com/
Counting Crows - November 10, 2012
Stubb's Bar-B-Q, Austin TX
stubbsaustin.com/
Texas Beer 5k - November 10, 2012
Texas Running Company Downtown, Austin TX
Free Talk and Book Signing- Michael Thompson, Ph.D,
"Homesick and Happy" - November 11, 2012
Dell Jewish Community Campus, Austin TX
shalomaustin.org/
American Girl Fashion Show- November 11, 2012
DoubleTree by Hilton Hotel Austin, Austin TX
http://www.childrensaustin.org/cmcf/
The MMG Tour: Maybach Music Group - Rick Ross, Meek Mill,
Wale and Machine Gun Kelly - November 11, 2012
Frank Erwin Center, Austin TX
http://www.uterwincenter.com/
Heartbeats & Heroes- November 11, 2012
At&T Executive Education & Conference Center, Austin TX
www.meetattexas.com/
The Underwater Tour 2012: Joshua Radin - November 13, 2012
Paramount Theatre, Austin TX
http://www.austintheatre.org/
The Best Of Texas Music - November 15, 2012
ACL Live
http://www.acl-live.com/
The 2012 Austin Visual Arts Awards - November 15, 2012
AT&T Conference Center, Austin TX
www.meetattexas.com/
The Global Warming Tour featuring Aerosmith with Cheap Trick - November 16, 2012
Frank Erwin Center, Austin TX
www.uterwincenter.com/
Flo Rida, Cobra Starship - November 16, 2012
Austin Convention Center, Austin TX
http://www.austinconventioncenter.com/
Enrique Iglesias, Nelly - November 17, 2012
Austin Convention Center, Austin TX
http://www.austinconventioncenter.com/
Ghostland Observatory, Fitz & the Tantrums, the Wailers,
DJ Jillian Ann and Tje Austin - November 18, 2012
Bob Bullock Texas State History Museum, Austin TX
www.thestoryoftexas.com/
22nd Annual ThunderCloud Subs Turkey Trot - November 22, 2012
Long Center for the Performing Arts, Austin TX
http://www.thelongcenter.org/
Cirque Dreams Holidaze Austin - November 23, 2012
Michael & Susan Dell Hall, Austin TX
http://www.thelongcenter.org/
Bill O'Reilly and Dennis Miller: Bolder & Fresher - November 23, 2012
University of Texas at Austin: Bass Concert Hall, Austin, TX
texasperformingarts.org/
Trailer Food Tuesdays - November 27, 2012
Long Center for the Performing Arts, Austin TX
http://www.thelongcenter.org/
We're having some fun in Austin -- Join Us.
The November weather world in Austin is usually pretty fantastic -- for example it is a beautiful 75 degrees in the “weird city” today. But remember, its Texas and the weather can change very drastically and quickly here.
I suppose the largest event to be held in Austin is F1 -- big statement I know -- coming November 16 through 18. Tickets are sold out and so are hotel rooms and even private residences (now legal in Austin to rent your home as long as you register with the City and pay a hotel tax).
November 2012 Calendar of Events
Leonard Cohen - November 1, 2012
Bass Concert Hall, Austin TX
http://www.texasperformingarts.org/
Signature Chefs - November 1, 2012
Austin Music Hall, Austin TX
austinmusichall.frontgatetickets.com/corp/contact.php
Shaolin Warriors - November 1, 2012
Long Center for the Performing Arts, Austin TX
http://www.thelongcenter.org/
Whiskies of the World® Austin - November 2, 2012
Hyatt Regency Austin, Downtown on the Lake, Austin TX
http://www.whiskiesoftheworld.com/home
Dr. Maya Angelou - November 2, 2012
Paramount Theatre, Austin TX
http://www.austintheatre.org/
16th Annual Austin Celtic Festival - November 3, 2012
Fiesta Gardens, Austin TX
Putting on the Ritz- Austin Children's Shelter Gala - November 3, 2012
Hilton Austin Downtown, Austin TX
http://www3.hilton.com
2012 Komen Austin Race for the Cure - November 4, 2012
Downtown Austin, Austin TX
Regina Spektor, Only Son - November 5, 2012
Bass Concert Hall, Austin TX
texasperformingarts.org/
Primus 3D - November 7, 2012
Bass Concert Hall, Austin TX
texasperformingarts.org/
Snow Patrol & Noel Gallagher's High Flying Birds - November 8, 2012
Austin Music Hall, Austin TX
http://www.austinmusichall.com/
Jackson Browne - November 8, 2012
Bass Concert Hall, Austin TX
texasperformingarts.org/
10th Annual Big Reds & Bubbles - November 8, 2012
Driskill Hotel, Austin TX
www.driskillhotel.com/
InnoTech Austin - November 8, 2012
Austin Convention Center, Austin TX
http://www.austinconventioncenter.com/
Eddie Vedder, Glen Hansard - November 9, 2012
Bass Concert Hall, Austin TX http://texasperformingarts.org/event/vedder
Austin Tequila Fest - November 9, 2012
Casa Chapala Mexican Grill and Cantina, Austin TX
www.casachapala.com/
Counting Crows - November 10, 2012
Stubb's Bar-B-Q, Austin TX
stubbsaustin.com/
Texas Beer 5k - November 10, 2012
Texas Running Company Downtown, Austin TX
Free Talk and Book Signing- Michael Thompson, Ph.D,
"Homesick and Happy" - November 11, 2012
Dell Jewish Community Campus, Austin TX
shalomaustin.org/
American Girl Fashion Show- November 11, 2012
DoubleTree by Hilton Hotel Austin, Austin TX
http://www.childrensaustin.org/cmcf/
The MMG Tour: Maybach Music Group - Rick Ross, Meek Mill,
Wale and Machine Gun Kelly - November 11, 2012
Frank Erwin Center, Austin TX
http://www.uterwincenter.com/
Heartbeats & Heroes- November 11, 2012
At&T Executive Education & Conference Center, Austin TX
www.meetattexas.com/
The Underwater Tour 2012: Joshua Radin - November 13, 2012
Paramount Theatre, Austin TX
http://www.austintheatre.org/
The Best Of Texas Music - November 15, 2012
ACL Live
http://www.acl-live.com/
The 2012 Austin Visual Arts Awards - November 15, 2012
AT&T Conference Center, Austin TX
www.meetattexas.com/
The Global Warming Tour featuring Aerosmith with Cheap Trick - November 16, 2012
Frank Erwin Center, Austin TX
www.uterwincenter.com/
Flo Rida, Cobra Starship - November 16, 2012
Austin Convention Center, Austin TX
http://www.austinconventioncenter.com/
Enrique Iglesias, Nelly - November 17, 2012
Austin Convention Center, Austin TX
http://www.austinconventioncenter.com/
Ghostland Observatory, Fitz & the Tantrums, the Wailers,
DJ Jillian Ann and Tje Austin - November 18, 2012
Bob Bullock Texas State History Museum, Austin TX
www.thestoryoftexas.com/
22nd Annual ThunderCloud Subs Turkey Trot - November 22, 2012
Long Center for the Performing Arts, Austin TX
http://www.thelongcenter.org/
Cirque Dreams Holidaze Austin - November 23, 2012
Michael & Susan Dell Hall, Austin TX
http://www.thelongcenter.org/
Bill O'Reilly and Dennis Miller: Bolder & Fresher - November 23, 2012
University of Texas at Austin: Bass Concert Hall, Austin, TX
texasperformingarts.org/
Trailer Food Tuesdays - November 27, 2012
Long Center for the Performing Arts, Austin TX
http://www.thelongcenter.org/
We're having some fun in Austin -- Join Us.
Total Comments 0
