Advice finding an apartment in our situation? (Houston, Austin: apartment complex, rental)

[nonamealberto]

First I'd like to say thanks to all of you who, simply by participating in this forum, have already helped us immensely in our search for a residence in Austin.

Our situation: I am leaving my job with a large, soulless engineering corporation in another state to live in Austin with my fiancee, who is currently in Houston. Neither of us will have a job lined up immediately, but we have enough money saved up for 1.5 years of rent + expenses even if we are unable to find employment. I have good credit, 5 years of solid employment and flawless rental history. She has little credit to speak of, has student loans to pay off, and her only rental history is with the apartments on campus which she paid at the beginning of each year of school. She has been gainfully employed in various positions (her degree is in business) over the last few years even while in school.

We are really interested in apartments within two miles of downtown, preferably south of the river. We would like to be able to walk to downtown as well as Zilker Park and the South Congress area, at least for our first year in Austin. Most of the apartments we're looking at right now fall in the $700-1000/month range.

We have some questions/concerns:

1) Will it be a problem that we don't have jobs in Austin lined up already, even though we have enough saved to pay the entire lease?

2) Since we are not married, we must apply separately. An application we are filling out states that the gross monthly income must be at least three times the monthly rental amount, then states that each occupant must qualify independently (unless we are married or have a rental history together, which we aren't and don't). Individually, she would not qualify with her current position. Is it likely we'll be able to work something out?

3) Anything else we're missing?

If you can grant us any tips we'd certainly appreciate it. We will be moving to Austin no matter what it takes, so if we have to give up some of our desires to do it, we will (being within walking distance of downtown, for example).

Perhaps we're being overly cautious, but we really don't want to waste money on an application that would be denied.

And yes, we know we may be foolish to move to Austin with no jobs lined up and only a year and a half's savings, but we aren't naive either. We will find a way to make it work, and if things just don't work out after the first year we have a small cushion to fall back on to move wherever the wind blows.

Thank you.

[halfliquid]

When I moved to Austin I didn't have a job. I filled out an application with an apartment complex over the phone/fax prior to moving and set up utilities then just signed the 6 month lease and paid with cash when I got here. You might want to do everything prior to moving unless you want to stay at a hotel for a short time once you get here.

[supadad33]

If the landlord balks at you having no income, I'd offer to pay up-front for the entire lease. Or maybe suggest he increase the security deposit to a level where he's comfortable.

[nonamealberto]

Thanks for the responses. Maybe I'm worrying too much.

[MtnLion512]

I don't think you mentioned it in your original post, but does your fiancee have a job in Houston. I'll assume yes, and if so wouldn't it save a headache to live there until you find employment in Austin? If she isn't currently employed in Houston then disregard Although living without income would be cheaper in Houston.

Good luck!

[SAO_1204]

My husband and I just moved to Austin, and when we set up our apartment, did not have our official offers for jobs yet. Many places, if you don't have a job to show income, will accept proof of money in the bank sufficient enough to cover your entire lease (which is what we had to do). Most places will work with you, I'd think. You can also offer to show your last paycheck, to show them something of your range of income. Just ask the places you're interested in, I'm sure they're be willing to work with you guys with such good history. Good luck! :]


(Oh, and I WISH we had 1.5 yrs of savings ready just in case! We had a month when we moved, plus moving expenses. We've been here only a week and a half so far, and it looks like it will be a smooth transition for the most part. If nothing else, and you don't find the 'job of your dreams' right away, there's plenty of other work you can do to pay the bills until that happens :] )

[CptnRn]

As a landlord, sorry no vacancies, I can say that I would consider things with a prospective tenant such as the OP. Such as a bank account statement showing adequate savings and a larger deposit.

[suelovesaustin]

You usually have to prove 3x rent income so as long as you can verify that, you should be fine. Having three months of bank statements should do the trick. I just did that with a client of mine who qualified for a house, had no income except monthly trust fund payments. You don't have to qualify individually - it will be both of your incomes combined that you will need to verify - since it is one apartment. You will need to pay two application fees...

Apartments are high occupancy right now, but as June hits, they start to open. ( I have been calling several of the ones that I really like for my clients to check on openings) so just an FYI to be aware of right now.

Bouldin Creek is a great area as well as Barton Hills.... good luck and let me know if you have any questions!

[mark311]

Originally Posted by supadad33

If the landlord balks at you having no income, I'd offer to pay up-front for the entire lease. Or maybe suggest he increase the security deposit to a level where he's comfortable.

That is putting a lot of trust in a landlord. I wouldn't do anything as drastic as that.

I was able to rent from one of the larger apartment complexes in town a few years back without a job. They just wanted to see my previous employment information and good/excellent credit score. In the employment area on the application, they just had me put "looking for work".

[nonamealberto]

Just wanted to say thanks again, very helpful advice.