Apartment Locators Can Help You Find Apartment Rentals Requiring Only 2x Income
Here in Austin and in many cities throughout the United States it’s common to see apartment underwriting criteria with a minimum income requirement of tenants earning at least 3 times the monthly rent. This stringent policy prices many renters out of decent housing – but there is a solution if you know where to look and whom to work with! Working with an apartment locator gives you access to listings with lower 2x or 2.5x income requirements even if you need an apartment with low credit scores! Yep, you heard that right! Accessing our database enables your apartment locator to pinpoint apartments that will only require 2x, 2.5x or 2.75x the monthly rent to qualify.
The Struggle of 3x Income Requirements
Qualifying to rent with 3x income rules is challenging for many people who don’t make enough income to meet the strict criterai set forth by the apartment complex. For example, an apartment renting for $1,500 would require proof of income totaling $4,500 per month or $54,000 annually to qualify if you applied at a property that required 3x the monthly rent. Many individuals and families struggle to meet such high income levels which is why they should turn to an apartment locator that can help them actually get into a place they will qualify for.
Gaining Access to 2x or 2.5x Rentals
This is where the relationships apartment locators have with leasing offices pays off. Locators often have access to inventory with lower 2x or 2.5x income rules that won’t appear on popular public rental sites. So that same $1,500 apartment may only require monthly income of $3,000 (2x rent) or $3,750 (2.5x rent) if you work with a locator – you’ll be able to qualify at a reduced amount which is much more feasible for most renters. This gives you access to better apartments you may have assumed were out of reach or properties that won’t take your application and administrative fee just to pad their bank accounts.
More Options for Renters who Need Affordable Housing Options
Opening up rental options requiring 2.5x income or lower allows more individuals and families to qualify and sign a lease at an apartment building that will approve them based on their gross income. This gives you more possibilities to find an apartment home that fits your unique needs and budget in an area that is close to work, friends or family. If you’ve struggled to find rentals you qualify for under stringent 3x policies, connect with one of our licensed apartment locators today – we have insider access to listings with lower income requirements, making your apartment search much less stressful!