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This is a guide on the University of Texas Pre-Leasing procedures and what you need to know before renting a place:
1. Give your Uptown Agent your search criteria of the kind of property you are looking for and your price range.
2. Your Uptown Agent will find you a property that fits your criteria and that you would be happy living in.
3. Submit Applications within 3 days to ensure that the property you liked does not get reserved by another group – best deals and properties get leased very fast.
a. Your personal application
b. Application for your guarantor (co-signer) if needed
c. Pay non-refundable application fees (vary from $50-$100/ per person depending on property)
4. Submit Application Deposit with your Application:
a. With most properties this will be equal to one month’s rent. Texan properties only require $1,000 total (not per person) deposit plus application fees.
b. The application deposit is refundable back to you within 30 days after move out minus any deductions due to damage to the property caused by you or any unpaid balances.
c. Most of the bigger Apartment complexes do not charge a deposit – instead they have a non refundable Admin fee of $250 – lower payment but not refundable.
d. The Application Deposit is non-refundable if you decide to back out after approval and before lease signing. Most properties consider you approved upon application.
e. The Application Deposit becomes the security deposit when the lease is executed. (Same money different name)
5. All applicants and guarantors must be approved by the owner/management company.
a. If for any reason you or your guarantor do not meet the qualification criteria the Application Deposit is returned but not the application fees.
6. Lease Signing
a. Once you get approved the lease will be drawn and you will be contacted to come and sign the lease.
b. At lease signing you will be required to pay the first full month’s rent (bigger Apartment complexes do not require you to pay that until move in). This will cover the 1st full month’s rent (it’s just pied in advance – not an extra payment).
7. Move-in – After you move in you will pay the pro-rated amount for the days you lived there in August (if you moved in after Aug 1st). You will have already paid Septembers rent at lease signing. On October 1st you will begin paying regular rent throughout the remaining term of the lease.
8. What’s included in the lease? – Unless specified otherwise the lease does not include any utilities or cable and internet. A few places will specifically mention that they include – cable, internet and/or water bill. Mostly that would be large apartment complexes as they are owned by one entity and they can supply that but it has to be specifically mentioned.
9. Parking – most houses and condos come with parking included in the rent. While some apartment complexes do include parking in the rent, most of the ones close to Campus do not and they will charge $50 to $120 per mo for each parking spot. Make sure to inquire about that.
10. All leases are for 12 mo periods, beware most apartment complexes around campus do not prorate the rents for the days you are not there – houses and condos do.
I hope this is helpful, please visit www.UTHomesearch.com or www.AustinUptownRealty.com to search through the many UT area Apartments, Condos, and Houses in West and North Campus areas. Feel free to call me: Tony Lazarov – 512-762-8669 with any questions or e-mail me at tony@uthomesearch.com . I will help you find the best deal around campus and best of all the service is completely free.
