First Time Renter (Houston, Howe: apartment complex, bad credit, safe neighborhood)

[Bubkiss]

I'll be moving to Houston soon and plan on renting my first apartment.

What should I expect? Would I need to put down a large deposit? what if I have a cosigner? I have good credit history but have never leased an apartment before.

Thank you.

[HoustonRonnie]

Depends upon what you want to rent. What's your price range? Some require 1st and last month's rent up front plus a damage deposit and a pet (non-refundable) fee. Depends. Need more info.

Ronnie

[Bubkiss]

I want to sign up for a 12 month lease on a 1 bedroom. Rent is $595 and no pets.

[NewBi10]

Everything you asked should be directed towards the apartment managers. They have no problem answering any questions you have. Every apartment handles deposits differently. As the previous poster mentioned, some require first month's rent as a deposit. A lot of places usually ask for $150. My mother stays in a luxury complex in the galleria area, and her deposit was $150. I am moving to north houston, and because I am considered 'high risk' due to bad credit, my deposit is the standard $150 PLUS $300. If your credit history is good then you shouldn't have a problem. However, with no rental history you may run into an increase. A cosigner isn't needed unless you have problems meeting the income guidelines. Most apartments require you to make at least 3x the rent. All in all, any worries or concerns should be directed to the apartment complex. Be sure to look around because Houston's apartments can be very tricky. They look good from the outside, but once you move in, you realize you're in the ghetto!! Be sure to look for reviews online and check the apartment complex at night and during the day to get a feel of the environment.

[HoustonRonnie]

Be prepared for first and last month up front and a $400 or so security deposit. If you need a co-signer for a $595 apartment, then you have a problem. If you don't have credit or your FICO is 600 or less, then the security deposit will go up. As a side note, $595/month won't get you much here.
Ronnie

[Bubkiss]

Originally Posted by NewBi10

Everything you asked should be directed towards the apartment managers. They have no problem answering any questions you have. Every apartment handles deposits differently. As the previous poster mentioned, some require first month's rent as a deposit. A lot of places usually ask for $150. My mother stays in a luxury complex in the galleria area, and her deposit was $150. I am moving to north houston, and because I am considered 'high risk' due to bad credit, my deposit is the standard $150 PLUS $300. If your credit history is good then you shouldn't have a problem. However, with no rental history you may run into an increase. A cosigner isn't needed unless you have problems meeting the income guidelines. Most apartments require you to make at least 3x the rent. All in all, any worries or concerns should be directed to the apartment complex. Be sure to look around because Houston's apartments can be very tricky. They look good from the outside, but once you move in, you realize you're in the ghetto!! Be sure to look for reviews online and check the apartment complex at night and during the day to get a feel of the environment.

I wanted to have an idea on what to expect. I will be touring the complex later this week and will ask them. Thanks for the advice!

[heightsian]

Depending on the complex, it could be between $250 to $400, a portion of which would be non-refundable ("administrative fee"). At my last apartment, rent was $1300 for a two-bedroom, deposit was $400, out of which $150 was non-refundable. We didn't have any pets, but I believe there was an additional $100 to $150 deposit charged for pets.

Of course, this is assuming an apartment complex and not a private owner, who may ask for a larger deposit (1st & last month's rent, etc).

Hope this helps.

[Bubkiss]

Originally Posted by HoustonRonnie

Be prepared for first and last month up front and a $400 or so security deposit. If you need a co-signer for a $595 apartment, then you have a problem. If you don't have credit or your FICO is 600 or less, then the security deposit will go up. As a side note, $595/month won't get you much here.
Ronnie

Thanks Ronnie. I'm relocating to Houston and only plan on being there a year to finish school. I'm in my early/mid-twenties, no kids so I don't want a big place but I do want to live in a safe neighborhood. The complex I'm looking is fairly new (2005) which is great but not so sure how safe the neighborhood is yet. Anyway, I'll call them and ask them any questions I have. Thanks again.

[Bubkiss]

Originally Posted by heightsian

Depending on the complex, it could be between $250 to $400, a portion of which would be non-refundable ("administrative fee"). At my last apartment, rent was $1300 for a two-bedroom, deposit was $400, out of which $150 was non-refundable. We didn't have any pets, but I believe there was an additional $100 to $150 deposit charged for pets.

Of course, this is assuming an apartment complex and not a private owner, who may ask for a larger deposit (1st & last month's rent, etc).

Hope this helps.

Thank you.

[NewBi10]

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