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Austin Apartment Classifieds > Your Austin Apartment: How Much Can You Afford?

Although extras are enticing when searching the Austin Apartment Classifieds, it is important to first establish what you require and what you can afford. Consider your cash flow and how much you can realistically put aside for rent.

Your Austin Apartment: How Much Can You Afford?

As a general guideline, you should spend no more than 25 percent of your monthly gross income on your apartment rent. For example, if your annual salary is $24,000 per year, or $2,000 per month, you should plan to spend no more than $500 per month. Spend more and you will have less to spend on essentials such as food and utilities. Spend significantly more and the only entertaining you will enjoy will be inside the walls of your new Austin apartment.

In some cases, luxuries may be worth the extra money like a gas fireplace for the homebody, or a separate office space for the self employed. It’s all a matter of being realistic and practical. 

If this is your first apartment in Austin, consider the hidden expenses that can sandbag your budget. Moving companies are costly and security deposits can range from a few hundred dollars to a substantial sum.

Below is a list of some of the hidden expenses and pre-move procedures you may be subjected to while searching for Austin apartments:

Security deposits: Security deposits can range greatly in amounts – you need to know going in exactly what you will be paying. In some instances, you may be required to verify your gross income and this may cost between $10 and $35.

Verifiable income: Many landlords will require you to pre-quality or verify your income. If your rent is $500, for instance, you will need a gross monthly income of $1,500.

Credit Check: Many apartment managers will conduct a credit check to ensure you are a suitable renter.

Rental history: In some cases, managers will review and verify your rental history.  In some Austin communities, criminal background checks are also conducted.

Leases: Most apartment managers in Austin, Texas, will ask tenants to sign a lease for a length of seven to 12 months. Shorter lease terms and month-to-month options are available, but often at premium rates.

Utilities: In many instances, rent will include sewer, water, trash, and pest control. Gas and electricity are typically the responsibility of the tenant.

Pet deposits: Although many apartment complexes in Austin allow pets, most require a deposit per pet. Some complexes charge additional rent for pets -- on top of the deposit. Know what you are going to be charged, before you sign your lease.

Start searching the classifieds today to find your perfect apartment.