City Standards to Qualify for a Rental
City Standards: What to expect. Austin, TX (San Marcos-Georgetown | Horseshoe Bay-Bastrop)
The following are the city standards that apply throughout Travis, Hays, Williamson counties.
(TAR) ~ Private Market ~Hse~Condo~Twnhm~Duplex~GA~MF~ (Search Tool) click to search as you please
- City Standard is FICO > 650
- Typically 3 times monthly rent
- Stringent credit/criminal history compliance
- App Fee $35-75 per Applicant
- Admin Fee $0-400
- Deposit = 1 month rent with application.
- Certified funds typically required ~ No cash, credit, personal checks…usually.
- Budget 1.5 times monthly rent to secure rate and term
- Approval process 3-5 business days
(TAA) ~ Apartment Communities ~ (Search Tool) click to search as you please
- City Standard is FICO > 500
- Standard = 3 times the monthly rent. Can range from 2.5 to 6 times the monthly rent.
- Est. 85% of properties are open to challenged Credit History when you’ve good rental history.
- Est. 20% of properties cooperate w/ challenged histories. Usually okay for POM or DUI. Any infraction involving sex~violence~theft are automatic declination(s); almost across all management companies. Outstanding housing balance, broken lease & evictions have similar limitations.
- 1st time Renters always welcome.
- App Fee $0-50 per Applicant
- Admin Fee $0-250
- Deposit =$0-1 month rent with application. Generally < $500 takes a unit off market.
- No cash accepted~all other forms of payment are acceptable.
- Estimate $400-600 to lock in your rate and term.
- Approval process ranges from same day to an avg of 36 hours.
Required Documents both Private Owner (TAR) & Multi-Family Residential Communities (TAA).
- State or Federal ID
- Proof of Income city standard is 3 times the monthly rent. It can range from 2.5 ~ 6 times monthly rent.
- Disclosures (IABS) (CP)
- TAR form (TX Assoc Realtors) or TAA form (TX Apt Assoc) blank applications
- Apts typically TAA
- Private typically TAR
• Fees = Non Refundable
• Deposits = REFUNDABLE
Acceptable forms for Proof of Income ~ Combined Gross Monthly Income (before taxes)
- Employed~W-2 (pay stub~taxes are withdrawn or New Hire Letter.)
- Self-Employed~1099~3 to 6 months bank statements~Letter from Employer (on company letterhead)
- Retired~Unemployed~Liquid Assets 10-36 times the monthly rent~not all properties allow this.
- Guarantor (5-7 times monthly rent)
Renter ~ Buyer services are cost free. We have access to all available inventory within a 30 mile radius of ATX.
512-284-3930 call or text 8a-8p