At Work

Kristin Mainz went to work in downtown rentals and sales three years ago with InTown Properties, which was launched in Dallas by her family in 2000. She's lived in Austin for 15 years and taught junior high school English for 12 years before deciding to get her real estate license.

Q: How has demand been for downtown rental units from your perspective?

A: I see a lot more demand for rentals than I do for sales. There's definitely a strong rental community.

Personally, I think it's because there are so many different businesses in Austin. There's lots of contracting work, so people may come for one year and then travel to a different city the next year. They're not going to purchase now, but they may purchase later. Some of my clients may lease a property downtown and have a house on the lake, using the apartment as a weekend getaway.

Lots of my clients like to lease apartments to have for UT games. They like the life downtown with all its excitement.

Austin is also a big place for singles. People come downtown and then don't want to leave.

Q: How has this changed?

A: I've seen the demand for downtown living increase in just the last three years. For example, I get a lot of demand for AMLI Downtown -- the original on Block 20 -- and they've now built AMLI Downtown number two on Block 22. In my personal opinion, I don't think they would've built a second one if there wasn't demand. I also see an increase in rental numbers that show downtown rentals are anywhere from 94 to 98 percent occupied year-round.

Q: What do you see happening to downtown rental living?

A: More than likely, there are going to be a few more buildings built. There are only a few complexes for lease downtown. I foresee more for lease because the demand is there. I'm hoping to see a few more options for clients who come to us looking for something. Gables is building the Commons on West Fifth. I think there could possibly be more built in the Warehouse district. I see more coming in that area.

source: bizjournals.com