Salary of at least 3 times the rent.
Verifiable and good rental history.
Credit score above 600.
No evictions or judgements.
Hope this helps.
Don Groff | REALTORÂ® & Mortgage Broker
Austin Real Estate Pros & 360 Lending Group
o 512.669.5599 | m 512.633.4157 | firstname.lastname@example.org
websites: http://www.AustinListed.com | http://www.360LendingGroup.com
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Anyway, back to the process. Fill out the application and any other info they require, provide payment for the application fee and, if they insist, provide a check to cover the deposit. The credit eligibility requirements can have a wide range so it is tough to say what is too low. If your application is accepted you will be asked to sign a Lease Agreement. You may also need to pay the first months full rent up front even if your lease begins mid month. (Can be negotiable).
Hope that helps. If you are new to the area, use an agent. They know the area and the ropes and you won't get a better deal without one, regardless of what the listing agent tries to convince you of.
Almost all homes in the Austin area are leased through a Real Estate or Property Management Company. Here is what they require: Texas Residential Lease Application (on all persons 18 years or older), An App Fee (ranges from $30-$60 and it's to process the application), The deposit up front (if you are not approved you will receive this back - but not your app fees), 3 years of positive rental history that can be verified, A source of income locally that can be verified and show that you make 3x the monthly rental amount, and fairly good credit. The credit part depends on how a leasing company runs your credit check (some use a scoring system). They are looking to see if you have recent credit issues. If you work with an experienced Real Estate Agent (REALTOR) they will assist on "talking you up" and may even ask you to write a letter if there are major credit issues. Additional funds toward the deposit or a larger up front rental amount could be requested to compensate for a credit issue. The best way to look at it over all is - A person owns the home and they want to make sure someone rents it that will cover there payment and take good care of the home. Be honest with whomever you ask to assist you in your search and let them know if you have any credit or criminal history - If they know, they can help or advise. Best wishes to you!! Central Texas is a wonderful place to be and you are welcome to come on down!!
Vivianne Dordea, Realtor
Sierra Homes Realty
GRI, CRS, ABR, CLHMS, e-Pro