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Home renter with keys in hand

Rental Expertise

Renting a home or apartment in Austin is a viable option for those moving to the area or seeking a more convenient location to live.  In general, rental properties are more affordable, don’t require a stellar credit score and involve less upkeep and maintenance.  If you’re thinking of renting or leasing, here are a few questions to consider.

Do leasing and renting differ?

A lease generally refers to a year’s term while rent which is often viewed as a shorter term, but most people use the words interchangeably.

When should I start looking for a place?

In the Austin area, the rental market is just as hot as the buying market.  We suggest doing your location research early and targeting properties two months ahead of time. Be prepared to pull the trigger on a rental if you see something you like.  We often see applicants who want to "think about it" and then are disappointed when a property is gone. 

Where should I look for a rental property?

You may have already noticed, traffic can be extremely congested in the Austin area. Consider renting a home close to work to shorten your commute.  There are several outlying areas that offer convenient living at slightly lower rental rates than the big city.

What percent of my income should I spend on rent?

Most qualifiers say rent should make up no more than 33% of your pre-tax monthly income, especially if you have a low credit score.

How much do I need for a rental deposit?

The amount can vary. In Austin, you can expect around $300-$500 on average. If you’re leasing a home from a private owner, you could see as much as a month’s rent as a deposit.

How can I ensure I'll get my rental deposit back?

Ask your property manager the terms of security deposit return before you sign the contract. That way, the provisions will be clear, and expectations can be met.
Best practices include the use of Command hooks instead of creating holes in walls, keeping floors clean and stain-free, cleaning bathrooms regularly and avoiding marks and damage to floors and walls.

How do I begin the rental process?

Reach out to Hendricks on Homes!  We can help you navigate the rental market and the application process.

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