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http://www.kbtx.com/content/news/Affordable-rental-options-run-thin-for-College-Stati

2,364 Views | 12 Replies | Last: 7 yr ago by CS78
hopeandrealchange
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http://www.kbtx.com/content/news/Affordable-rental-options-run-thin-for-College-Station-families-409726465.html

I have reached out to the writer of this story and asked for them to include a bit more information. The city is promoting their agenda with out (In my opinion) telling the complete story.

With a very simple google search you will find a glut of vacant property in
Aggieland. I own several nice rentals in C.S. and have had a 3-2-2 vacant since August. If I could find a qualified tenant I would rent this home for $800 per month just to get some income from it. I think a big point they left out of this story is qualified tenants. There are hundreds of the same situation in town. KBTX please tell the other side of the story. Yes there are thousands of new student projects in the works. Several of us in the business keep it real simple. We use terms like Heads and Beds. I might be wrong but as I see it there is an over abundance of beds compared to the number of heads.
Stories like this just add fuel to the fire with more over building. JMHO

jja79
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AG
Interesting to hear your first hand account as a landlord in BCS. I have a place in town and spend weekends there and the number of for rent signs plus the enormous number of apartments under construction around town would certainly keep me from considering BCS as a place to invest in rentals.
Bill Robbins
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AG
Quote:

"We're talking about our workforce here," said Eller. "They have a difficult time competing with the student households where you can put two to four students together and they can share the rent expenses."

They did talk about the difference between working families and college students. It takes $15/hour at 40 hours per week to qualify for your "affordable" $800/month rent. I suspect that most of our local employers don't pay anywhere near that.
SoTheySay
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S
The home price has increased. In order for an investor to be anything but in the hole the rent rate has to increase.
SteveBott
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AG
Hope shoot me an email. My daughter will need a place starting summer

Steve@stevebott.com
Jinx
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Qualifications for private owners to tend to vary a bit. I've never had an issue renting from a private owner (in fact I prefer it), but finding the residences among all the big loud advertising, student rentals, and "by room prices" is very difficult. I just found out my current landlord intends to sell this summer, which I know is always a possibility - but now I'm one of those folks trying to find a place again. Between all the above and scammers, it's tough finding you folks sometimes. We're a young family with one old dog (he's never been the issue in finding a place) who both work full-time and have been at our jobs for many years. We're not looking to move out of BCS anytime soon and non-smokers. It's generally not difficult getting accepted by property owners since we're pretty stable and don't intend to move around a lot - it's actually finding the properties within our budget that can prove to be a challenge. It's not like we're making min wage here, but we're not ready for a house yet and all the finances that go with.

It is tough.

If your home is still available, I'd love to take a look at it. The property owner who informed us they were looking to sell told us she would let us out early without fee if we found a place due to the fact we've had such a good relationship. Obviously I'm on the part of the board because I'm also looking for a place before July.
harrierdoc
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AG
jinx, email me at sssrentals at gmail dot com
Jinx
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Sent you one. Appreciate it.
mikemack12
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I am in the same situation as you. Owner has decided to sell and now looking for private owners. It's much harder now a days.
PseudonymK
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AG
I am really desperately looking for anything in College Station as far south I can get.

I have 10 days to move. And I am disabled with a 12 year old at CSMS.
lockett93
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AG
Kee kee you need to put way more information on the post, like how many bedrooms, how many baths requirement. As well as rent.
PseudonymK
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AG
2 bedrooms +, 2 bathrooms, $1000, and enough room for a walker or powerchair. We don't have pets, our little family lives between Deacon & Welsh, we carry insurance, and only ask for pest control. Everything else we ask for the Landlords permission to fix stuff, upkeep the lawn, paint, and multi-year leases.

I'm glad they did the story because there are several families in ackward situations.
PseudonymK
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AG
I thought a while before constructing this reply. So, I will make mistakes; but I stand in my truth.

College Station has a wealthy mix of cultures, incomes, and social status positions. While the University can change with times. Our city, money, and popularity always win. With a HUD 2 bedroom voucher the rent must be between $700 to $750, I took on the challenge and hit dead roads everywhere.Some of those landlords just want a check, they could care less about maintenance, repair, curb appeal, living space, etc. There are willing landlords that deserve more and tenants that could care more. However, they are few and far between. Even as an Aggie reaching out as far as I could, I saw no breaks. It doesn't matter how much you plead. Newer and better is going on the market, and you are playing a housing game of Russian Roulette. Isn't that why subleases are rampant? You get students who are flippant, but you are so stuck up that you don't want to sign a few papers for a guaranteed X amount of dollars and have an inspector tell you that your property is sound?

Visit BVCOG they have the 5 year plan and housing outlook.

Have fun with your empty house.
CS78
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Kee Kee said:

Have fun with your empty house.
I doubt anyone owning a 2 bedroom in CS has to worry about it being empty. You are facing a number of barriers.

1st is the simple lack of supply of 2 bedroom properties in CS. Land values have prevented more of them from being built. The number of people wanting or needing smaller 1 and 2 bed properties is much greater than the supply. I posted an older 1980s build, 2/1 in CS, for rent last week at $795 and good qualified prospects were fighting over it. Why would I even consider HUD?

2nd, you are looking for a HUD property in an already high demand area of the market. Blame it on the landlord if it makes you feel better but the fact is the blame lies on your fellow HUD participants. Most of us have sworn off HUD all together due to the AVERAGE HUD tenant not being worth dealing with. I used to do HUD properties and had some great HUD tenants but many of them were nothing but drama and a drain on time, effort, and money. Many of them simply have no respect for anything. They tear up properties, game the system, bring in crime, threaten law suits, etc, etc. Of course not all are this way but after you have to do a full remodel on the same unit three times in 2 years, it's just not worth the risk.

Sorry, but it is what it is.


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