Looking for a student apartment in Austin? There are many options for you to choose from. A 24th Street Realty agent can help you put together a list of properties that meet your criteria, tour them, and navigate leasing paperwork to make the process easier. Whether you’re looking in West Campus, North Campus, Hyde Park, East Side, Far West, or Central Austin there are certain things you can expect when you’re working with one of our Realtors®.
Do I have to pay a Realtor® to help me find a place?
No! 24th Street Realty agents are compensated by property management companies and property owners who want to lease their property. Using the services of a 24th Street Realty agent won’t cost you a penny and will never affect the rent you pay.
Do you only work with students?
All of our agents are licensed Realtors® with access to properties for lease and sale throughout Austin and the surrounding areas. Whether you’re looking for a rental or to purchase a new home or condo, we have an agent that can help you.
I am considering buying/selling a condo or house, can you help?
We are happy to assist you with all your real estate needs. Every client and their situation is unique so speak with one of our agents to get a personalized assessment.
What are the up front costs involved in leasing?
Depending on the property you choose, you can typically expect one of the following:
CORPORATE APARTMENTS: (Examples: The Block, Quarters, Regents, Villas on Guadalupe)
Approximately $200-$500 in application fees and deposits per person. Some or all of these fees may be non-refundable. Generally this is the only fee you’ll pay until your move-in date in August.
SMALLER APARTMENTS, CONDOS, DUPLEXES, HOUSES :
An application fee between $50-$200 per applicant*
Deposit equal to one month’s rent*
First month’s rent is due within two weeks of application
*Both the application fee and deposit must be turned in by all parties in order to secure a property*
What are the lease terms?
Each property is different, however student property leases will typically start in the middle of August and run through the end of July the following year. See your agent to find a property with specific lease terms.
Are units furnished?
Certain corporate apartment complexes offer furnished units, however most condos, small apartments, houses, and duplexes rarely come furnished. See your agent for possible options.
Can I move in early?
Management companies generally need time to get the property ready after the previous tenant has vacated and they often need to get several properties ready on a very tight schedule. For many property management companies it is difficult or impossible to alter the move-in date to an earlier time. If there is a gap between the move-out date of your current residence and the move-in date of your new one, you may need additional accommodations for your furniture and personal items while the unit is made-ready, along with arranging for a place for you to stay during that time.
Be sure to check the move-out date of your current residence prior to lease signing so you are aware of any gaps.
How do I get approved? What are the requirements?
To be approved to rent a property you typically need to:
Make between 3-5 times the rental amount per month
Have a good to excellent credit history
Have a good to excellent rental history
Be able to pass a legal background check
If for any reason you don’t meet these criteria then you’ll need to provide a guarantor – someone that does meet the leasing requirements who will sign paperwork guaranteeing your contract. For many people this means a parent or close family member.
Using a guarantor is very common, especially in student housing situations. A guarantor MUST provide their social security number, driver’s license number, and work/employer information. Depending on the management company and their guidelines, he/she may be required to provide bank statements, W2s, check stubs, a copy of their I.D., etc. See your agent if this will be required for the property you’re applying for.
What is By-The-Bedroom (BTB) Leasing?
BTB leases are only offered in corporate apartment complexes and have certain advantages. BTB leases are typically more expensive than other leases, however they offer you a degree of protection. With a BTB lease you are responsible for only your portion of the rent and an equal portion of the common area. If your roommate does not pay rent or breaks their lease it will not affect you.
What is a Conventional Lease?
Conventional Leases are also called Joint-and-Several Leases and they are the most common type of lease contract. With a Conventional Lease, everyone that will live in the unit will sign one lease agreement and all lease signers will be equally responsible for the payment of rent and upholding the rules of the lease contract. This means that in the event that your roommate does not pay rent, you and any additional roommates can still be held responsible.
What if I can’t find a guarantor?
Unfortunately, if you don’t meet the qualification requirements for the property you are applying for then you must have a guarantor. If you think you’ll have trouble finding one, please contact your agent.
I don’t have my entire group of roommates lined up, but I’m ready to start looking. Can we still tour properties?
Austin is currently one of the most popular cities in the U.S. and the housing market is very competitive. It will only benefit you to tour properties if you and your entire group are prepared before going on tour. Since we cannot reserve a unit without all application fees and deposits, you run the risk of losing a property between the time you are able to tour it and the time you are able to secure your roommates and their portion of the fees. All units are leased on a first come, first serve basis and lease up quickly – especially during peak leasing season.
I can’t make a decision until my parent or guardian views the property. Do you work on weekends?
No problem! All agents schedule their own hours and most of us are available to work afternoons, nights, and weekends as needed. If your parent or guardian needs to give final approval, please invite them! We will find a time that works for everyone. Please note that most management companies are closed on Sundays, which can make it difficult or impossible to view the unit on that day. Ask your agent if Sunday is a viable option for the property you’d like to tour.
I want to look now, but don’t want to make a decision until later…
No worries! We understand that certain situations come up with school and life or you might need more time. Just keep in mind that since this is a constantly moving market, what we show today may not be reflective of what will be available tomorrow, several weeks, or several months from now. Speak with your agent about this in greater depth, but typically it is best to schedule tours when you are ready to decide on a property.
I only need a lease for a semester or a few months, can you help me?
Short term leases are difficult to find, especially in the campus area. The most common places to find short term leases are on Craigslist or subletting/roommate finding groups on Facebook. Let your agent know if you’re interested in only short term leasing.
I’ve read everything and I’m ready to start looking…what’s next?
If you’ve already scheduled an appointment:
Make sure you have everything ready for your tour! You’ll need:
A government issued photo I.D.
Your potential roommates
A checkbook or access to a cashier’s check or money order for fees and deposits
You may also want to bring a pen and paper for notes.
If you haven’t scheduled an appointment:
Give us a call at 512-897-0009 or send us a note. We’d love to help you find the perfect place in Austin!