College students cause rental explosion

AUSTIN (KXAN) - If you are looking for a place to live in Austin, August is probably the worst time to do so.

And the rest of the year isn’t that rosy, either.

Thousands of college students are moving into their new homes this week and causing a rental ripple effect that the entire city will feel.

“There are so few places to live available, that apartments are raising prices,” said Alan Ware with 512 Realty.

The rush for rooms in August takes place in an already exploding rental market.

In previous years, renters who waited until September or October could capitalize on deals offered from properties trying to fill any rooms left vacant.

That is not the case anymore.

“That strategy used to work well, but if you wait now, there will be nothing left,” said Ware who added that rental rates are up 7 percent from this time last year.

Even those who are able to find rooms could encounter problems.

Students moving into The Edge Eastside were shocked to find out some rooms had been overbooked and others were not clean upon move-in.

“I got up to my room yesterday and my apartment was flooded, it was not clean, and there were bugs everywhere,” said Priscilla Craig.

Apartment management would not comment on the situation.

Ware said the demand for apartments this time of year can make renovations between tenants difficult.

“Everyone is trying to get places renovated and it is a lot to get done,” Ware said. “There are only a limited number of workers out there.”