Tips for leasing apartments

To make finding a new home and signing a lease less painful students should take time to build credit, compare ratings and inspect properties.

Some students view finding a property to lease as a painful experience, but taking the right steps to prepare can make your stay painless.

Building credit

One of the most important factors in securing a lease is having good credit, said Janna Seal, licensed Texas real estate agent at Keller Williams. Students without expendable income can consider getting a credit card for their budgeted expenditures, thereby building credit without accruing debt, Seal said.

“That’s why I like gas credit cards, because that’s something that you normally pay cash for,” Seal said.

Income verification

Property managers often require income verification proving the applicant has an income that exceeds three times the cost of rent, which may be difficult for some, Seal said. Students may consider approaching family or friends with established credit and income to cosign on a lease if available, Seal said.

Compare and contrast the competition

Some students may be intimidated by the rigorous application process, but they should be just as vigilant in analyzing potential properties, Seal said. Comparing their ratings on property websites can lead to a more rewarding lease, Seal said.

“Just as they’re going to kind of scrutinize you and put you under the magnifying glass, look at their ratings,” Seal said. “How do they do with clients and tenants?”

Inspect the property

Before signing a lease, it is imperative to thoroughly inspect the property and its amenities, Seal said. Seal said the expectation that everything will work on the first day of the lease is often not met. Checking the plumbing, heating and appliances prior to signing the lease can save students time and trouble, Seal said.

Small-time landlords

Large property management companies often have investors and a board of directors to appease, and are much more rigid with their application process, Seal said. Students without credit or a cosigner may consider seeking landlords who own fewer properties, Seal said.

“There are small time investors that maybe own one or two properties, where they are more relationship-driven,” Seal said.


Like our work? Don’t steal it! Share the link or email us for information on how to get permission to use our content.

Click here to report an accessibility issue.

Load comments