UPDATED: Dec 1, 2013
So here is a list of the apartments in town that have places – as of this post being published – for under $500 a month. We have included reviews where they are available.
Of course, if you can’t find what you are looking for here…be sure and check out our main site for a map of Austin apartments.
Creekside Villas Senior Village
Well – maybe.
This pretty thorough article discusses the ins and outs of several apartments/condos downtown. I’d encourage you to read it but here is a quick summary.
While Austin hasn’t felt the crunch like many areas, the downtown apartments aren’t getting the rents or the occupancy rates they were hoping for. Many places are offering concessions that brings a the prices down 100’s of dollars a month.
You still take a bit of a gamble when you buy on concessions. Its much better to actually get a lower rent because you are very unlikely to get the concession if you renew your lease.
Depending on how long you think the recession is going to last, this is probably as good as you can hope to getting a place downtown. You have as much leverage as you can get. Don’t be afraid to tell them you want to think about it or ask about more stuff and lower rent.
Read it all here.
And you can always get the most recent prices for apartments in downtown here
A personal story this time. I received notice that I had to resign my lease. They told me that they were going to raise my rent. I put on my negotiating hat.
Long story short..my rent is still going up. I got a free steam cleaning, a bathroom refinishing, and maybe a new parking spot.
Here’s how I did it.
I went in and said I had some questions. I mentioned that several of my friends had their rents cut (true) so why was mine going up. She gave me a long answer that I didn’t pay a lot of attention to.
Without really acknowledging her explanation, I told her that if I went to a new apartment I would be able to get some covered parking, new carpet and a clean bathroom. She instantly agreed to clean the carpet and refinish the bathroom. She said that parking lot was impossible. We talked some more and she agreed to let me know if a covered spot was available after their pre-leasing period was over.
Honestly, I don’t think it was my power negotiating that got me anything. I think she had a certain amount of things she was allowed to concede and I asked for some of the things she was allowed to give. I also think they were the things that would happen in the apartment if I moved out.
I really didn’t want to move so I didn’t have a whole lot of negotiating power. I got a whole lot more than the people who didn’t ask for anything. Knowing that I can get the cleaning that they would do if I moved out…that is what I will ask for next time.