Renting with a roomie definitely boasts some big-time financial, social and group-Netflix-binging benefits, but what should you know before committing to living with another human for an extended period of time?
Running a search for roomies
Honestly, we got you (for free)! Only one of you needs to slide into our DMs on Instagram or Facebook, or call/text us (512-815-2317) on the household’s behalf and our agents are good to go. Most of the Austin properties we work with have rates for 2 bed/1-2 baths starting around $1400 and going up from there. When it comes to the apartment triangle (location, finishes and price), you typically can’t get the best of all three. So come to an agreement on which two are most important to both/all of you. Your Smart City agent will reach out to you to gather deets, find ALL the specials and provide a hyper-personalized list, and then help get you and your roomie(s) touring ASAP.
Applying + Getting approved
Renters are typically required to show that their monthly income is at least three times the rent. Lucky for roomies, that sum is split amongst incomes of all the names on the lease! If you’re hooked on a gorgeous unit that is tied to a special or concession, just confirm whether you’ll be approved on what the rate typically is (market rent), or if you’ll be approved on what the base rent is after the special is applied (effective rent). Believe us, it makes a difference! Last but not least, old friend or Craigslist roommate find, make sure everyone is in the clear for 3 things: rental history, credit history and background history. You don’t want to pay that application and administration fee just to be declined because of a seemingly minute detail!
Roomies: Making inner-city living affordable!
Recently, we took a pulse survey on Instagram to see which Austin neighborhoods are y’all’s favorites and the responses were pretty evenly split, surprisingly (except for posts about moving to the burbs – LOL at Austin traffic). Here are the survey results and starting rates for 2-bedroom units for this time of year:
*cue Steve Harvey voice*
When asked what neighborhoods our viewers want to see more deals in, you said:
North (42%)
starting rates for a 2-bedroom: $1350 (that’s approx. $675/roomie)
vs.
South (58%)
starting rates for a 2-bedroom: $1400 (that’s approx. $700/roomie)
East (61%)
starting rates for a 2-bedroom: $2000 (that’s approx. $1000/roomie)
vs.
West (39%)
starting rates for a 2-bedroom: $1550 (that’s approx. $775/roomie)
South Central/78704 (68%)
starting rates for a 2-bedroom: $1950 (that’s approx. $975/ roomie)
vs.
The Domain (32%)
starting rates for a 2-bedroom: $1500 (that’s approx. $750/roomie)
Downtown (65%)
starting rates for a 2-bedroom:$2100 (that’s approx. $1050/roomie)
vs.
The ‘Burbs (35%)
click here to get deets on a 2-bedroom in your desired ‘burb.
Let’s recap!
- Location, amenities, price; pick your top two.
- Make sure collective income of everyone on the lease is at least 3 times the monthly rent.
- Double-check that everyone is in the clear re: renting history, credit history and background history.
- BONUS: Reach out to Smart City and let us do all the foot work to get you into your perfect apartment match.
