Do I need a cosigner to rent a home in Austin, Texas?
We've heard it here plenty of times from the tenants who inquire about our rental properties. So how do you determine if you will need a cosigner for your residential lease or not? There are several factors that can force an individual to obtain a cosigner to back their lease. Typically tenants are required to have a cosigner when they do not meet the landlord's requirements for the home by themselves. Some common reasons to have a cosigner are:
No Credit History / Poor Credit History
Tenants who have failed to establish a credit score or individuals who might have a poor credit score that doesn't meet the property's criteria can be required to have a cosigner if they wish to live in that property.
Income
Living in Austin, Texas is expensive depending on where you choose to live. A popular destination for renters is Downtown Austin or just South of the river. Sometimes the desire to live somewhere can outweigh the means to do so and tenants who might not produce enough income to live where they'd like can be required to have a cosigner back the term of their lease.
Below is a video from our Austin property managers explaining the above!
Have more questions about renting a property in Austin, Texas? Visit our tenant FAQ.
