The construction of a 288-unit apartment building wraps up in Georgetown. The Gabriel Georgetown, a six-building apartment community, is complete. The 288-unit development has one, two, and three-bedroom units available with rents ranging from $1,176 to $2,386. Leasing began in August, and the property is currently 21 percent leased.

Amenities include a swimming pool, fitness center, coffee and tea bar, EV charging stations, picnic area with outdoor kitchens and grills, dog park and pet wash station, cyber lounge, clubhouse, and billiards room.

This is only one example of the massive building of multifamily units in the Austin, Round Rock, and Georgetown areas. The total occupancy rate is 92.8%, which indicates that people don’t mind living in apartments, bringing down rental pricing for small investors. Occupants enjoy all the amenities that the apartment complexes offer all their prospective tenants. There are a total of 331,050 inventory units for rent in the surrounding areas.

Their marketing to attract tenants involves offering one to two months’ free rent and sometimes eliminating deposits. As a small investor, you may have to provide something similar to a qualifying tenant.

When you put a house, duplex, or small multifamily up for rent, remember the tenants’ choices with all the amenities, marketing incentives, and free rent for a month or two. This is cost-prohibitive for many small investors, which means that small investors must become very competitive in their rental pricing.

For more information, contact Roy Swan at www.capitaltx.com rswan@imccapitaltx.com