Summer is finally over and apartment communities that maintained 90-100% occupancy levels throughout the summer have now been bombarded with new fall and winter time notices to vacate. Apartment communities pre-lease apartments based on their notices to
vacate which are usually given 60-90 days out from the resident’s move date or lease end date.

Most long term tenants are being pushed out of their apartments with rental increases up to $200. Many clients discouraged stating that they have been a perfect resident for 5 years or more and don’t understand why their apartment community is so anxious to “stick it to them” when it comes time to renew their leases.

With a shortage of available apartments in Austin the market has changed. For example 5 years ago in South Austin you could get a nice apartment at an A class property for between 6-$700. Now you cant even get near an A class property in South Austin for less
than $900 and that would be for a 1 bedroom apartment Availability pushes pricing. If a guy has 50 apartments available they lower prices and offer up a massive upfront concession ie; 1 month free 2 months free etc. But when a management company looks down and sees that they are 96% full which has been the case most of this summer and historically most summers then their rates rise to the market rates (the highest rates they can charge for a particular unit). Long term residents are being viewed as a loss and therefore pushed out.

The good news is that in the last two or three months there have been at least twenty new apartment communities open.  There are also at least 100 more on the horizon. This type of news and the historically slow fall and winter months are forcing apartment communities to drop their prices and drop them fast. There are at least twenty communities have dropped their prices $50-$75 in the last month from August pricing to compete with the new properties that have opened or are opening up in their vicinity.

Rental rates are dropping dramatically with the rise of new communities you just can’t be fooled by upfront numbers anymore. The advice is that you always contact a real estate professional procurement of leasing transactions for the consumer are always 100% FREE. With the newer communities trying to fill up their properties they are offering great upfront concessions that will bring the rates back down.

You should always contact an apartment locator before looking at apartments on your own. If that apartment locator doesn’t find you the best deal available and you are not happy enough to move in then they don’t get paid that is your insurance.

Beacon Hill is one of America’s oldest neighborhoods. It’s architecture is from old colonial Boston, consisting of beautiful brick rowhouses, wooden doors, decorative ironwork, narrow streets, and American flags. Charles Street is the neighborhood’s main street, and is lined with shops & some of the best restaurants in the Boston area.

The Lincolnshire is a full-service luxury condo development located in Beacon Hill, literally 1 block from the historic Boston Common. The units feature hardwood floors, stainless steel appliances, laundry in the unit, and central air. The building features a concierge, and incredible roofdeck with amazing views. 1 bedroom condos for sale start around $379,000, and apartments for rent start around $2,000.

Bowdoin Place is a luxury condo development located iacross from Mass General Hospital MGH. This new-construction development features a concierge, as well as indoor garage parking. The condos feature state-of-the-art finishes, hardwood floors, and laundry in the unit. Condos for sale in Bowdoin Pl start around $549,000 for a 1 bedroom condo. Apartments for rent in the building start around $2300.

21 Beacon Street is a condo development located on the corner of Beacon & Bowdoin Street in historic Beacon Hill. The building features a concierge, elevators, laundry, and an amazing roofdeck with incredible views of the city. The building was once an historic hotel called “Hotel Bellevue”. John F. Kennedy once resided at 21 Beacon while running for Congress in 1946. There are also great restaurants downstairs including a great sushi restaurant. The Massachusetts State House is located directly across the street. The building is also within short walking distance to Mass General Hospital, the Financial District, Boston Common, & all of Downtown Boston.