Should Snowbird Condo Owners in Austin, TX Lease their Units?

Austin is a popular destination for snowbirds. It is a nice place to escape the snow and cold weather. Owning a condo can be the perfect solution for people who want to enjoy Austin during winter. But what about the rest of the year? Should snowbird condo owners in Austin lease their units when they are not using them?

This post will cover some reasons to lease your snowbird condo in Austin.

4 Reasons for Snowbird Condo Owners in Austin, TX, To Lease their Units

1. Right To Verify

As a condo owner, you have the right to investigate potential tenants. You can look into credit, background, employment, income, and rental history. It can help you find the right tenant for your property. After reviewing all the information, the owner can decide whether to lease the unit to the individual.

2. Right To Notice to Pay or Quit

Landlords in Texas have more control over rent and terms than landlords in other states. Texas landlords have more options and are not law bound to allow tenants to resolve the situation. Instead, condo owners in Texas can serve a “Notice to Pay or Quit” on tenants. If the tenants do not pay the rent on time, one option is to ask them to leave. The owner may request late fees or additional time to make up for the missed payment.

3. 30 Days For Security Deposits

Landlords in Texas have 30 days to return the tenant’s security deposit after the lease ends. That means, before returning the deposit, condo owners have 30 days to inspect the property. You have ample time to find, document, and repair issues before returning the deposit.

4. No Rent Control Law

Texas has no “rent control” laws that limit the amount of rent to charge. That means condo owners can raise the rent on their units by any amount after a fixed-term lease expires. More control over rent makes it easier to increase income from rental homes.

Snowbird condo owners in Austin can easily lease their units using landlord-friendly rules. You can learn more about Texas lease agreement laws by clicking here.

However, you will need to respect the rights of tenants! Even if a state is friendly to landlords, tenants still have rights. You can learn more about landlord and tenant law by clicking here.

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