If an apartment search is in your immediate future - don't wait, contact Kathy Curtis, AptExpert.com Texas Apartment Locators to take advantage of some great specials that appear to be going away in the not too distant future!
Shared From the Houston Chronicle July 18, 2017
All those free-rent specials landlords have been using to lure tenants to their brand-new buildings might not be around for long.
The explosion of multifamily construction that turned Houston into a renters' market has fallen off dramatically and experts are predicting the generous concessions could cease in 2018 as the market methodically absorbs the tens of thousands of units developers have built in recent years.
"Inside the Loop, you can find certain properties with three months free rent ," Mark Taylor, senior managing director for the Houston office of CBRE said during a quarterly market presentation Tuesday. But, he added, "Can you get that in a year? No way."
Another report released Tuesday shows rents may be beginning to climb out of their rut.
The average Houston rent has increased in six of the past seven months - though by only $12 - reaching $1,068, according to Dallas-based Axiometrics. Year-over-year, however, the average rent was down 1.9 percent.
Deals won't last long
At 1300 N. Post Oak Road, where some two-bedroom apartments list for $1,715 a month, the advertisement warns that savings - a $500 price break and maybe a free move - "will not last long!"
Not too long ago in Texas, more permits for apartment buildings were issued than for single-family homes.
From 2010 to 2015, those two classes of housing approached parity, as big cities like Houston and Dallas encouraged denser development rather than sprawling into suburban neighborhoods.
That trend has ended. The number of new multifamily buildings starting construction has fallen over the past couple of years, as single-family units continued their upward march.
Market Square Towers in downtown Houston, the 40 story luxury apartment tower is 75% leased with 3 out of 4 of the penthouses already rented and not even finished yet!
Sorry for the long post but important news for anyone who is looking for an apartment in Houston soon! Please call now so you don't miss out on some of the most exciting apartment rent specials and deals in the Houston area, ends soon!