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Do you need to prelease an apartment in Austin to be
ready when you get here?
We are experienced in helping people do just that. We can advise you on the local apartment communities, neighborhoods, commute times, and even show you photos, floor plans, and 360 degree views. This way you can feel comfortable with your decision and secure in your move without an expensive house hunting trip.
Just ask us how.
Notice:
Residential rental locators are required by law to be licensed by the Texas Real Estate Commission (P.O. Box 12188, Austin, Texas 78711-2188 1-800-250-8732 or 512-465-3960
Apartment Locators may advertise units in general terms, and all units may not have the same features. The amount of rent quoted may be the starting rent for a basic unit.
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512.258.5200
1.888.217.5200
Call anytime including up to 9:00 pm in the evenings and weekends
Austin Apartments - FREE Austin Texas Apartment Locators
HomePlace Apartment Search & apt finders specialize in finding you the best Austin apartment rental for your needs, serving the entire metro area, including Round Rock, Cedar Park, Leander Lake Travis & Pflugerville. We have a full listing of rentals to choose from, including condos and townhouses for rent. Our free Austin TX apartment search & finder service will find your ideal apt by price, size, floor plan and special amenities. We can accommodate special requests like pet friendly rentals that allow large dogs or multiple pets. Visit our apartnent guide often for current specials on Austin rentals. Search for Best Prices, ASAP Move Ins, $0 and $99 move in Specials, New Luxury Properties, specific Areas and locations, special amenities, Short-Term Leases, furnished apts, Senior Discounts, Major Employer discounts, Big Dog Friendly, cheap appartments and Pre-Leases.
Our Mission
“We are dedicated to delivering exemplary service while providing our customers with essential information and resources to make informed relocation decisions in choosing a quality apartment environment.”
Our mission is to be your full-service, one-stop source for finding the best rental at tremendous savings and making your next move simple and hassle-free. Our goal is to save you time, money, and frustration while providing the best possible service from HomePlace specialists.
SATISFACTION GUARANTEED
Q. Why are there no addresses listed in your ads?
A. In order to receive credit for leasing the property, we have to show you the property. In order to give you the most choices, we work all open listings, not just ours.(we work with well over 90% of the complexes in town) In some cases, we can meet you at the property to make it easy on you. Or in some rare situations, register you ahead of time, so we would not have to be there, but we have to arrange this before you look at the property.
A. Can you send me a list?
Unfortunately there is no such thing as a true updated list of available rentals. There are hundreds of rental management and private owners in town, without an MLS type system. Which is why we exist - because it is .a overwhelming task to do it yourself. Therefore we have no correlated list available that we can send you. You can always check our website for an updated selection (but it only lists a small percentage of what available rentals we have) . Anyone who says they have a list, actually has a limited database of the apartments - the ones that will work with them on a smaller commission when they "send" you to apartments on that list, without checking availability - MOST OF WHICH DO NOT HAVE AVAILABILITY OF UNITS MEETING YOUR CRITERIA.
The main reason a list wouldn't help you is that it doesn't show what is available! Availability of units for a particular price, area, etc. literally change daily. Our job is to do the legwork for you, and find the best ones available using your criteria so you can pick from the top ones. Otherwise, you might as well use the yellow pages as a "list".
Free Credit Reports
At any time, consumers can receive a free credit report yearly from each of the three credit reporting agencies. The web site is : www.annualcreditreport.com or call toll free (877) 322-8228
Current News Articles
JOB GROWTH TO FUEL AUSTIN APARTMENT DEMAND
February, 2010
AUSTIN – The Capital City's robust employment growth is expected to resume in the coming months, attracting job seekers from areas hit hard by the recession, according to the 2010 National Apartment Report by Marcus & Millichap.
A recovery in the global economy will be particularly beneficial for Austin firms, as technology sales in emerging markets will revive the local manufacturing sector, which has declined by 15 percent since peaking in 2007.
Following are some of the most significant aspects of the Austin Apartment Research Report:
- Job growth is expected to gain steam this year. Companies are forecast to expand local payrolls at a 2.5 percent clip with the addition of 19,000 positions.
- A sharp reduction in multifamily development activity is expected in 2010 as 2,500 units come online. Last year, 7,900 apartments were delivered.
- Population gains and job growth will fuel a 2.1 percent increase in apartment demand this year, resulting in a 40 basis point improvement in vacancy to 10.6 percent.
- Asking rents are forecast to rise 0.6 percent in 2010 to $849 per month while effective rents retreat 0.7 percent to $752 per month.
(Marcus & Millichap)
2010 AUSTIN APARTMENT REVIEW
JANUARY 2010
- Occupancy Increased Minimally Year-Over Year
- 4th Quarter Saw Large Decline in Effective Rents
- Fundamentals are Strong and Jobs Continue to Increase
Not surprisingly, August is a big month for the multifamily industry in the Austin area. With all the new leases for incoming students, we usually see impressive numbers for that month. And 2009 followed that pattern as well. After all the new leases in late summer we normally see a slow but steady fall off in occupancy through the fourth quarter. 2009 broke from that pattern, however. In a recession as deep and widespread as this one has been any good news is as refreshing as it is surprising!
The Overall Occupancy Rate finished 2009 at 89.1%, up 0.1% for the year. As late as May of last year, that figure had fallen to 86.9%, but
rose as much as 2.5 percentage points by November, before it fell slightly at the end of the year. Rents, however, did not follow this trend.
The Overall Effective Rental Rate dropped $39 over the year to finish 2009 at $788 per month. Although steadily decreasing throughout the
year, the decline gained momentum during the 4th Quarter, where $31 of this drop occurred. in the Austin area but whereas Occupancy
managed a slight improvement, it was accomplished at the cost of rental rates.
As recently as the beginning of last year, Austin was not known as a concession-prone market. At that time, only about one in four properties offered an advertised concession, and that averaged only about 2.5 weeks free on a 12-month lease. Today, 54.6% offer concessions and they now average over 4 weeks free.
In fact, the majority of the reduction in Effective Rents came by simply lowering Asking Rents, rather than by offering additional rental
concessions.
Nearly 5000 new units were added in the area over the last year. Lease up rates have been fairly strong. For Same-Store Occupancy
Rates, they have only lost 0.9% over the year, even with all the new product hitting the market. This signifies a pretty healthy ability to absorb
this new product.
Unlike most places around the country, Austin has been experiencing job growth throughout this past year. At the beginning of the year,
there were 827,573 people employed in the area; by November, that figure had climbed to 843,093. The Unemployment Rate rose from
5.2% to 6.9% because of more people looking for jobs, but job growth still occurred in 8 out of the 11 months (through November, the latest figures available from the U.S. Bureau of Labor Statistics).
There are more new units still in the pipeline as well as new projects being announced with expectations to begin construction early this year. Austin, however, is not experiencing the overbuilt conditions seen in many other Texas markets, so we should be able to handle these as they come on board. With the job market looking better, the fact that Austin never got hit too hard with this recession and that the fundamentals are in better shape here than in most places, the multifamily industry in Austin should look forward to a good year ahead.
ALN Apartment Data
Austin Market
General Overview Dec 2009 Annual Change
Occupancy: 89.1 0%
Units Added: 4,520 - 48.5%
Units Absorbed (Annual): 4,039 +110.6%
Average Size (SF): 849 +0.5%
Asking Rent: $826 -4.3%
Asking Rent per SF: $0.97 -4.8%
Effective Rent: $788 -4.7%
Effective Rent per SF: $0.93 -5.2%
% Offering Concessions: 55% +12.4%
Ave. Concession Package: 7.7% +10.6%
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CENTRAL TEXAS OUTLOOK
Job market woes likely to ripple, expert says
2009
Apartments:
Dotzour said renters are taking on roommates or moving back home, even postponing divorces, because they can't afford two household.
Fewer people also are moving to the Austin area, dampening demand for apartments in a market that some experts have said is overbuilt.
But Dotzour said the pipeline of new apartments is shrinking, with 1,000 units to be added next year and between zero to 500 units expected to be completed in 2011.
Historically, there have been only a couple of years since 1992 when there were as few as 1,000 apartment units added, Dotzour said.
"This will be an unprecedented decrease in supply," he said.
In Heimsath's latest office-market report, he said the citywide occupancy rate, which has been dropping since the end of 2007, fell to 89
percent in June 2009 from 91.4 percent in December.
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NOTE: Austin: Since August of last year, this market has shown a decline each month in the Occupancy Rate.
The response has been an increase in concessions so that now over 50% of all properties are offering
some sort of rental concession, with the average Concession Package standing at 3.8 weeks free on
a 12-month lease. No indicators currently suggest a quick turnaround in this market.
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AUSTIN APARTMENT MARKET
Local apartment market headed for a slowdown
2009
The apartment market in Central Texas is turning in renters' favor, a new report said. And it looks like the trend will hold for the foreseeable future as a wave of new complexes comes online, further reducing occupancy rates, the report said.
The region's apartments were 91.4 percent occupied in the firts quarter 2009, down from 94.1 percent in the year-ago according to Austin Investor Interests which tracks the market.
(Note: as of summer 2009 occupancy was down to 87.5%) Although the drop from the previous quarter wasn't big, it came in what is typically the strongest time of the year, when students move into campus-area apartments. It was only the second time in 15 years that occupancy has declined in the second quarter
The average rent was $824 a month, flat from the previous quarter. Two experts are forecasting rents to decline 3 to 5 percent during the next 12 months. One big factor is the high level of new construction. In the third quarter, 2,593 units were added, more than 4 times the number added in the third quarter of 2007.
And many more are coming in the 57 projects under construction, with more than 12,000 units left to complete. Half of those units are expected to open during the next two quarters, which have historically seen slow leasing activity,Lincoln is leasing the new Crescent apartment project at 127 E. Riverside Drive near Congress Avenue. Many of the 169 units are leased and are already being lived in
"Overall, we are not absorbing as many units as we should, given the continued, but lower, new job creation." Heimsath predicted that the region's apartment market will see nine to 12 months of slowly declining occupancy and that rents will decline 5 percent over the next 12 months. Willett said he thinks rents will decline 3 percent during the coming year, with that figure factoring in rent discounts.
Willett said that although the latest apartment numbers are "reasonably healthy," annual rent growth "has slowed dramatically from the 5 percent to 6 percent rate seen earlier, but it is still solidly in positive territory at 2.6 percent."
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Austin apartment glut, rent cuts predicted- Others, however, say market -- especially for high-end, downtown units -- will stay healthy.
Too many apartments are being built across the Austin area, and that means some tenants can expect rent discounts & other concessions by year's end.
(As of Summer 2009, Austin's occupancy rate had fallen to 88.8%, a -4.5% decrease from the previous year)
Willett says occupancy is headed down and predicts rents will flatten then decline 3 percent this year. "The market remains in decent shape for the moment but with so much additional product now under construction, it's pretty easy to see the headlights of that train bearing down on you."
Austin is on track to add 12,810 apartment units through the end of 2009, according to M/PF. That's the third biggest block of new supply on the way anywhere in the country, trailing only the 19,217 units under construction in Dallas/ Fort Worth and the 18,848 units under way in the Houston area. Willett said the Austin area needs about 1/2 as many units as are now under construction based on current demand, which he says has been sluggish. He said there are over 1,000 fewer occupied apartments now than at the start of this year. He predicts it will take two years for Austin to burn off its excess supply "if you stop building right now."
Stuart predicts properties like Riata and the upscale apartments at the Domain in North Austin and in the downtown market are "going to do very well." Also, rising gas prices "bode very well for the downtown market and for properties that are clustered in around a lot of the jobs, like the Arboretum,"
But Willett still contends that the Austin metro area, which "ranked as the star apartment market performer in Texas over the past few years ... is losing its luster." He thinks the market will bottom out by the end of 2009 before occupancy begins ticking back up.
Renting in Central Texas
Rents are for 2-bedroom, 2-bath units. Occupancy rates
are for all apartments.
Date Average rent Occupancy rate
June 2000 $913 98%
June 2001 $951 93%
June 2002 $868 90%
June 2003 $812 88%
June 2004 $784 89%
June 2005 $811 93%
June 2006 $861 95%
June 2007 $900 93%
June 2008 $905 92%
Feb 2009 $870 88%
March 2009 $824 87%
September 2009 $820 87%
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SIMON PROPERTY MASTER OF ITS DOMAIN
AUSTIN More than a year after opening the $245 million first phase of its Domain mixed use project, Simon Property Group has completed phase two.
Work begin last year on the additional 631,000 sq.ft of retail, 75,000 sf of office, 411 residential units and a 340-key Westin hotel. The 27-acre Domain is anchored by a 200,000-sf, three-story Dillard's; 80,000-sf, two-story Dick's Sporting Goods; and an eight-screen Village Road Show Gold Class Cinema.
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Crescent jumps at chance to add apartments in Northwest Austin
The company behind two master-planned communities north of Austin and a high-profile condo tower slated for the edge of downtown has plans for an upscale apartment project in one of the city's hottest areas.
Crescent Resources LLC is under contract to purchase a nearly Seven-acre tract on Stonelake Boulevard near the Arboretum shopping center. Plans call for a four-story apartment building of 280 to 300 units surrounding a structured parking garage in a dense format. The property will use green building standards and seek LEED certification, but the amenities and specific design elements are uncertain at this point.
High-end living has already established a foothold in the area. Less than a mile from the Stonelake site, the Residences at the Domain opened in late February 2008 and is doing well. The 390 apartments are part of the 700,000-sf, mixed-use lifestyle center at MoPac Expressway & Braker Lane. Carmen Lynch, property manager for the Residences, says the complex is already four months ahead of schedule in meeting its occupancy goals and is on target to be 96 percent full this spring. Rents for apartments at The Domain range from $825 to $2,450/mo.
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Wave of new apartments under way
Developers, most analysts say demand in Austin is strong enough to fill new space.
A wave of apartments is under construction, and developers are counting on the area's appeal to pull in more residents to fill the space. More than 10,000 apartment units are planned to open in the next 2 years, according to first-quarter figures by Austin Investor Interests LLC, which analyzes rents and occupancy rates.
"We are very bullish in Austin in general and in particular, the downtown area," said Timm Wooten, executive vp with Martin Fein Interests Ltd., the Houston-based developer. "The desire to live close to downtown and the growth of Austin will support it," he said. Many of the developments are popping up in South Austin, Central Austin and downtown and include the Monarch, Red River Flats and AMLI on Second Street.
At the Domain in North Austin, 390 luxury apartments are saddled into the open-air upscale development, with one-bedroom units starting at $999 per month and going up to $2,244. Renters are paying an average of $766 per month.
The Robertson Hill Apartments just East of Downtown just opened the first of 290 upscale units this spring. The complex, on San Marcos Street between Ninth and 11th streets, features one-bedroom apartments that start at $1,240 and two-bedroom units going for $2,600.
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512.258.5200
1.888.217.5200
Call anytime including
evenings and weekends
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MUELLER MULTIFAMILY DEVELOPMENT
AUSTIN – Construction is continuing on the Mosaic at Mueller, the first multifamily development at the former Robert Mueller Municipal Airport. Mosaic at Mueller is a $45 million, 440,000-square-foot complex with 442 apartment units. It is being developed by Simmons Vedder & Co. in partnership with Dallas-based Crow Holdings Realty Partners
The 4 story Mosaic at Mueller includes 1, 2 and 3-bedroom units ranging from 580 to 1,750 square feet. Monthly rents will range from $850 to $2,500, with 10% of the units available to low-income renters. Facilities will include swimming pools, a clubroom, business center and a fitness center
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Crestview Station moves forward
Multifamily component will include 300 live-work units and loft-style apartments
Plans are picking up speed to turn a former North Austin industrial site into the $200 million Crestview Station, which will be one of Austin's biggest transit-oriented developments. A commuter rail station is planned for Lamar and Airport boulevards The project, which is bordered on one side by the future Capital Metro commuter rail line, is designed as a community where people will be able to live, work and shop without having to drive.
High Street Residential, a Trammell Crow subsidiary, will build the multifamily component. The mix will include live-work units and loft-style apartments. The first phase will include 300 apartments and 60,000 square feet of retail.
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5th Street Commons
Gables Residential Inc.& Direct Development broke ground on 5th Street Commons, a mixed use project that will bring 38000 sf of retail and restaurants & 138 residences to 5th Street between West Lynn and Campbell streets.
The 4 story, $28 million development features luxury rental units on top of a neighborhood retail project. At least 15,000 sf will be dedicated to restaurants, including Pok-e-Jo's BBQ and Mean Eyed Cat. Both currently reside on the project site.
The site will also have a 200 parking space parking lot for retail customers and a multi-level garage for tenants.
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Since April 20, 2007
Satisfied Customers
"Brittan and I just wanted to thank you so much for your help in getting us the PERFECT Apt.! ... I will be moving in on Saturday .... I am so excited to start my new journey! and thanks to you, it was a very enjoyable beginning process. Again we thank you and we will be in contact when we are looking for a home."
>Take care!
>Mariel M.
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"I can't thank you enough for your help on Saturday. I really appreciate the time that you spent w/ my father and I. Please know that when it comes time for me to look into buying a house, I will let you know so that way I can continue to work with you. "
>
>Thank you again.
> Elaine.
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"Dana (the on-site agent) got us into an apartment today. It's a model higher than we were looking for but we absolutely love it, and we dont think we'll be moving from it."
>Thanks again! >
>Michael & Brandy P.
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