“All animals are equal but some animals are more equal than others.”
-George Orwell

OWNERS NEWSLETTER – MAY 2019

CHEAP RENTS – Apartment rents in Killeen are the fifth cheapest in the nation among small cities. In a recent study by RENTCafè, an internet listing service, the national average apartment rent was $1,419 in 2018, up 3.1% from 2017. In Killeen, the average apartment rent was $713 last year. It’s no surprise that many renters who work in the Austin area are choosing to live here, where they can save several hundred dollars per month. Austin rents are close to the national average, but a downtown 884 square foot apartment is close to $3,000 per month.

RENTAL ACTIVITY – We leased thirty-six properties in April consisting of twenty-eight single-family houses and eight apartments. We ended the month with an occupancy rate of 100% in all categories. The rental market is extremely tight currently. Our application rejection rate was 63% last month, which further illustrates the demand we are experiencing. Rents are on the increase in all categories, which has been a pleasant and welcome change for many rental property owners. Small cities in the United States experienced the highest rent increases last year and this trend is now impacting our area. Barring an unforeseen economic downturn, we will likely continue to see rising rents this year and beyond.

WHERE TO RETIRE – If you’re planning on retiring in the near future and are looking for a location where taxes are low and the cost of living is very affordable, Where to Retire Magazine has taken all of the guess work out of locating the perfect spot. Of the seven cities in the U.S. that were under consideration for the number one spot, Killeen, Texas, took first place as the top city to retire in. No state income tax and businesses offering military discounts were contributing factors.

REMINDERS:

1. Protect your investment – There is still time to have your property’s central air system serviced and checked before the summer heat kicks in. Lack of maintenance is the number one cause of system failure. Contact our maintenance department for details and to schedule this important service.
2. Buying or selling – As the stewards of your real estate investment, our property management services are complimented with our full-service real estate sales team. Whether you’re looking to buy, sell, or just need real estate advice, look no further than Hunter Rentals and Sales. Ida Gayton (Ida@HunterRentals.com) and Sue Burton (Sue@HunterRentals.com) are ready to assist you with all your real estate needs.

David Gerke
Broker

Posted by: juliem on May 9, 2019
Posted in: Uncategorized