Hendricks Real Estate
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Frequently Asked Questions
How long does it take to rent a home in Austin, TX?
Our typical marketing time is 2-4 weeks. Time of year, type of property, and asking price all have significant influences on marketing time. Our average marketing time (from the day listed to a signed lease) has been 16 days, compared to the Austin MLS average of 24 days. Assuming a rental rate of $2000/mo, those 8 fewer days of marketing time saves you over $500. We lease your home quicker, saving you money!
How do you determine the rental price for my property?
We complete a Comprehensive Market Analysis (CMA) of the rental value of your home before listing. Existing inventory, age of the home, size, number of bedrooms and bathrooms, condition, and schools all have an impact on the rent you can get for your property. We closely monitor traffic and the competition when your home is for lease. If it is vacant and we have not received an application after 2 weeks, we will generally lower the asking price by $50/mo. Let’s look at a hypothetical house that we have listed for $2000/mo. After 2 weeks of vacancy, you have lost $1000 in potential rent. $50/mo less in rent will cost you only $600/year in lost rent. Minimizing vacancy is the key to financial success in rental properties.
How do you screen tenants? What qualifications are you looking for?
Our tenant qualification criteria is posted on our website. In a nutshell, we are checking for 1) income, 2) rental/ownership history, 3) credit history, and 4) criminal record. Occasionally, tenants may be deficient in one area, which may be compensated for with a larger security deposit or co-signer.
How often do you inspect the home?
We have several ways to assess the condition of your home. Our trusted contractors, whom we have been working with for years, are our best eyes and ears. We get reports back on any condition that causes concern when a contractor is in your home. We have 3 routine inspections per year: one for the HVAC system, one for the roof and exterior building envelope, and one for general interior condition. Before a renewal is offered to an existing tenant, we complete an interior and exterior inspection of the property. Condition of the home will have a factor in the renewal process. Lastly, we are always out and about in our market. Exterior drive-bys are completed frequently. The exterior condition is usually a decent indicator of how the interior is being maintained. If we see something that concerns us on the outside, an interior inspection will be completed.
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Company Details
1901 Matthews Lane, Austin, TX 78745
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Years in Business
17 years
Founded Year
2009
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