Austin Apartment Deals: A Renter’s Cheatsheet

Kwelia provides price-transparency for the apartment-rental industry. By analyzing millions of data-points, Kwelia can uncover the best deals available for renters, intelligently price apartments for property owners, and predict upcoming real-estate trends for investors.

 

In our last posting, we reviewed Austin’s top apartment deals. Unfortunately (for renters) many of last week’s deals are no longer available, giving testament to Austin’s highly desired real estate market; In 2013, Austin showed above a 95% occupancy rate for apartments,  leaving little room for future renters. Fortunately, Kwelia is here to save the day with yet another iteration on this week’s top  apartment deals in the Austin area.

Sabina

If you’re a renter who prefers a quieter, more homely (the “cozy” definition, not the “unattractive” one) neighborhood, check out Sabina properties, located in North Austin’s Hancock area. Sabina offers a 2-bedroom, 2-bath, 1,080 square foot apartment with monthly payments of $1,950; Sabina throws in a free month’s rent, reducing the renters’ overall monthly payments to $1,787/month. As a result, Kwelia ranks the Sabina a cool 85/100.

Why this deal wins

Not only does Sabina offer a quiet, safe neighborhood but the apartment comes furnished with luxury granite countertops, stainless-steel appliances and in-unit washer & dryer. Access to an elevator makes moving-in easy to the newly renovated apartments. Additional value is derived from Sabina’s 1-month free promotion when you sign the lease.

 

Berkshire SoCo

If you’re not a fan of the north, head south and check out Berkshire SoCo. Berkshire is currently offering a 1,221 square foot, 2-bedroom, 2-bath luxury apartment for $1,694/month. Berkshire’s offering has been rated a 65/100 by Kwelia’s algorithms.

Why this deal wins

While Berkshire SoCo is not as highly ranked as Sabina, the property offers a huge advantage – a garage. With a car, a renter will still need to drive 16 minutes into town but will have the flexibility for weekend getaways and explore the beautiful, more rural parts of Texas.

 

Falcon Ridge

If you enjoy Berkshire SoCo’s location, you might want to also check out Falcon Ridge – a 2 minute drive further south. The additional 2-minute drive will yield a 1,120 square foot apartments with 2-bedroom and 2 bathrooms priced at $1,266 (after 1-free month lease signing). The deal offered at Falcon Ridge is almost too good to pass up, scoring a Kwelia rating of 74/100.

Why this deal wins

Not only does Falcon Ridge offer luxury apartments with elevators for easy move-in, but Falcon Ridge offers many outdoor activities including, but not limited to, access to Williamson Creek, a volleyball court, two swimming pools, jogging trains, and public BBQ grills – perfect for some fun in the sun!

Coming up next week…

Grab these apartments while you still can because, like our last posting, most apartments are only on the market for a week! None the less, the team at Kwelia will be your eyes-and-ears keeping you up-to-date on the best apartment deals within the area.


If you’d like to learn more about Kwelia, sign up for our mailing list or login to find other apartment deals throughout the area.

The Best Times to Rent: Apartment Dynamic Pricing Patterns

“You should always buy plane tickets on Tuesdays,” my friend tells me.

Or was it strictly business hours in the first half of the week? Conventional wisdom abounds on the ideal times to purchase a flight, as consumers have long known that airline prices tend to change from day today and sometimes even more quickly. Airlines are hardly alone in employing these tactics though; many e-commerce sites also use dynamic pricing to respond to fluctuations in demand by adjusting prices algorithmically.

Should you always buy plane tickets on Tuesdays? As a result of these dynamic pricing methods, some services have leveraged their data to help consumers pick good times to buy (Kayak and Bing, for example, try to forecast flight price movements in part using query volume.)

Is there a best time to rent an apartment? At the end of last month, an article from Time Magazine examined how apartment prices, too, can change rapidly. Take a look at the infographic below, and read on to find out when you’re more likely to find an apartment deal:

kwelia_lease_infographic_04

First, how prevalent is dynamic pricing in the apartment industry? Estimates suggest that roughly 20% of apartments nationwide use some form of revenue management software to adjust prices. Upon examining the relationship between apartment pricing and time from a sample of more than 1.5 million listings selected from our national database, we found some patterns.

Much like airline tickets, there are ideal days to find an apartment — while Sunday and Tuesday were the most expensive days, Monday and Friday were the least expensive. Furthermore, the time of the month makes a difference. Prices rose throughout each month by about .4% total, with the majority of that increase occurring between the first and second weeks of each month. Similarly, there are more and less expensive months in which to rent. We found that prices are lowest in January, rise consistently until August, and hold steady through the end of the year. At their summer peak, prices were nearly 4% higher than in January.

So when should you rent? If you can afford to be flexible on timing, look for listings around the beginning of the new year. In general, stick to the first week of the month, and preferably look on a Monday or on a Friday. Of course, you can also always sign up for our free apartment ratings tool to find great deals using our statistical models. Happy hunting!