What is Pre-Leasing?

Pre-Leasing is when a property is leased prior to the move-in.  It is a very common practice in the campus area.

   

When does Pre-Leasing Start?

The most sought after properties are typically leased first, with many getting leased in September of the prior year (that's 11 months before move-in).  It is important to start the search as early as possible.

   

Pre-leasing allows tenants to lock down a property before they leave school for the summer and before the dorm rooms are filled.

   

The best properties are usually leased first, so we recommend you start you search as soon as you know you will be returning to UT for the fall semester.

   

How Do We Get Started?

Talk to your student and decide how much you are willing to spend and how many roommates you feel comfortable for them to have.

Once you have the basics, have them call our office at 512-476-1976 to schedule an appointment to get the process started.

   

What Kind of Properties are Available?

Ely Properties has over 1,000 properties exclusively listed for lease around the campus.  They range from small studios to 8+ bedroom mansions.

   

What is Required to Pre-Lease a Unit?

The landlords usually require a security deposit, the first month's lease and a the lease to be signed before they will take the property off the lease market.  They do this to insure the tenants are serious about leasing the property as they will be removing it from the market.

   

What is a Guarantee of Lease?

Because students do not typically have income, most landlords will accept a letter of guarantee from the children's parents.  In some cases they will also allow financial aid to be used in lieu of a parent's guarantee.

   

Less than 1 Year Leases?

Almost every property in the campus area will require a year lease.  If your student will not in Austin for the summer they maybe able to sub-lease their property for the summer.

   

Individual Leases?

We do not offer leases by the bedroom or individual leases.  All residents must sign the lease, but residents may be replaced at anytime.

   

Move-In

On move-in day, you will come by the Ely Properties office to pick-up a move-in package.  This package will include keys and other items needed to move-in.  On move-in day our office opens at 10am.

   

Paying Rent

Rent is due in our office by the open of business on the 2nd of each month.  It may be mailed or dropped off in person.  We do accept credit card payments over the phone during normal business hours.  We can also assist you with a automated payment.  Ask for information at during lease signing.

   

Maintenance

When something breaks, simply fill out a maintenance request and we will send a tech over.  There is no charge unless the damage was caused by the tenant's neglect.  We do offer 24-hr emergency maintenance for serious property damage emergencies.

   

Move-Out

On the day of move-out you will drop off the keys at our office.  We will get a forwarding address for the security deposit, which is typically mailed 30 days after move-out.  The tenants are responsible for a maid service and carpet clean.

 
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Thought about Purchasing?

As a parent of a student attending the University of Texas, you know Austin housing is expensive. In addition, the competition for quality campus-area housing is such that students will sign a lease 10 months BEFORE move-in. With UT being the largest college in the country, student housing will not be getting cheaper or easier to find in the next few years.

  

The recent stories of doom and gloom in the national housing market make the thought of buying a property for your student a difficult one at best. If you look deeper, now is probably the best time to at least consider the benefits of ownership. Housing prices in the campus area have fallen from their peak in August 2008, but rents have not, nor has UT student enrollment. In fact, rents and student enrollment have INCREASED. Because there is a tremendous rental market, even though prices have fallen, foreclosures are very rare. The recent price drops have created some incredible deals There are incredible deals throughout the campus area.

  

Purchasing a university area property is a great way to reduce your monthly housing expenses. In addition to being simply cheaper each month, there are great tax benefits to ownership. In many cases, you can use a trip to Austin as a tax deduction!  There is no tax credit for renting. By purchasing a property, you become your child’s landlord. You know that the rent will be paid each month, and more importantly, you know that they will have a safe, clean place to call home.

 

Want to Learn More?  Try Our Free Seminar

Throughout the spring, Ely Properties will be hosting several Parent’s Housing Seminars. Whether you are interested in purchasing or leasing a property, these seminars give you a chance to gain valuable knowledge, learn more about Ely Properties and what we have to offer and best of all it’s free.

  

A wide range of topics will be covered including purchasing, leasing, management, maintenance, mortgages, benefits of ownership and much more. These seminars will be followed by a question and answer session and an opportunity to take a tour of properties for sale.

  

Due to space limitations, please call us at 512.476.1976 to reserve a space at our next seminar.

 

Start You Search Here!

Since 1991, Ely Properties has specialized in the student housing market. We currently manage over 1,000 properties throughout Austin and have developed over 500,000 sqft of  student housing in the campus area.

  

All of our agents are full-time real estate agents who specialize in student housing. Our development and management experience gives us a better understanding of the market and student housing needs. Our agents knowledge of the area far exceeds that of off campus Realtors who rarely work in the campus market.

  

From the structural integrity of the building to the financial stability of the homeowners’ association, we can help you determine if a property is a fit for you.