Rent prices are falling in Austin, according to new report

A recent report for apartment investors shows that the rental housing market is not currently stable.
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[@lfeb]

Thank you Jesus!!!!! Lol! I'm sick of the out of control greed by the real estate developers and landlords.

[@tylerdurden9748]

if you paid for property tax and property insurance you'd understand the rent price you're being charged.

[@rw7717]

LOL! Did you know Austin doubled property taxes for investment properties. So, yeah, your rent went up.

[@lfeb]

My family is full of real estate agents, I understand property taxes. Rents have gone up way more than the taxes though. That's an excuse for an ignorant child. The building I live in was paid off by the landlord 20yrs ago. Property taxes are high, $16,000 grand a year average for a duplex. My landlord is nicer than most, yet my rent still covers the taxes and expenses in 6 months. The other six months and other rental side of the property is pure profit. Around $37,000 a year average. They have multiple properties, most making more and myself and the other people who rent are choosing rent over bills, food, doctors, they could lower each sides rent by $200 a month and still be very wealthy, profitable and nobody would be without power for random months

[@rw7717]

@@lfeb I’m sure no toilets, plumbing, AC units, and other things ever break down. You’re talking about one case, where the property is paid off. I think if you ever experienced the real cost of owning multiple properties you’ll change your opinion.

[@douglas2583]

Yeah well where does the hike in rent truly begin and end? Profiteering is in everyone, sure.. Poor property owners are suffering 😆

[@roxyburton79]

Pffft I don’t wanna settle. Going to rent hehehhehe also the property tax in TX is huuuuge

[@ghettodaddy1438]

It won't last because we have 8% mortgage rates and that keeps most people from buying. So renting is their only option

[@caroleclem1580]

And that is why rent is not going down because they know their renters out there who either can’t buy a house because I don’t qualify or they’re moving there in college many factors go into renting and that’s why the prices are not going down even though buying houses may stop wherever we are, I don’t know here in Texas area building building building building

[@tylerdurden9748]

@@caroleclem1580 I manage multifamily apartment buildings and the Net Income for properties that have been in the portfolio for 20+ years has been reduced to nothing. A property that made $75K - $125K profit per month is now operating at $-30K for the 4th straight month.

[@batmantomgaming2262]

Lol nope

[@LisaS1]

Any landlords here in Austin, TX - would you accept my 2 bedroom Sec 8 voucher? for 2 related adults

[@tylerdurden9748]

I can't take that reporter serious with a haircut like that...whats with that cowlick on her right side ??

[@eenchantress5113]

Oh quiet