What are the typical terms of a lease?

Typical leases in the central Austin area revolve around the school calendar. Leases start in June or August, and end in May or August. The lease term is generally 9-12 months, but 9 month leases are harder to find. When leasing a property you will be asked to fill out an application and write a check for the application fee ($75). Submitting an application with a security check in hand shows the owner that you are serious about the property, and gives them the confidence to take the property off the market. Finally, upon signing the lease you will be asked to pay the first full month's rent in advance.

What is subletting?

Subletting is the process of finding someone else to fill all or the remainder of your lease term. Subletting is very common in the university area during the summer. Many students sign 12 month leases and then decide to spend their summers away from Austin. The following important facts about sublettings involving rental obligations and liability could save you time and money. First, most subletters will not pay your full rent amount. In order to make your property look more attractive to potential subletters, most people lower their asking rate by 15-30% a month. But...you are still obligated for the full rent amount according to the terms of your lease. Second, most subletters do not put down a seperate security deposit. This means that you are liable for any damage to your property. This means you are liable for any damage to your property. This is not meant to take the place of contacting your property manager, always cler any changes with your owner first!

What if I am having problems with my landlord?

Always try to work things out with your landlord or manager first, but if all else fails you can contact the Austin Tenant's Asssociation

How do I renew my lease?

Contact your owner or property manager first to make sure the property is available for lease next year. After confirming the property is available, make an appointment to resign your lease. Be aware that renewing your lease does not guarantee the same rental rate you are currently paying. If market values rise, so will your rent.

What is preleasing?

Preleasing is the process of finding a property to lease very early in the season. In the central Austin area many people search for their next home 9-10 months in advance. The advantages to preleasing are substantial, you have access to almost all units that will be on the market the next year early. This allows you to pick from the best properties available, and prevents you from being rushed into a lease just because "everything else is taken". There are a few things to know when preleasing, the current residents of any property you look at have the right to renew before an owner accepts a new lease. Also, make sure you have all roommate issues worked out before prelasing. Any security deposit money you put down on a property is non-refundable if a roommate decide to live elsewhere.