Most UT students will need a guarantor (aka co-signer) in order to be approved for a rental property. In order to qualify without a guarantor, the typical requirement is personal monthly income equal to at least three times the monthly rent. Financial aid / scholarship income can sometimes be counted toward this three times benchmark, it just depends on the property manager. If using a guarantor to qualify, that monthly income benchmark usually becomes four or five times the monthly rent.
To see what a guarantor form looks like (as well as the lease contract itself), please visit our Helpful Links page and then scroll down to the “TAA Lease” and “TAR Lease” (these are the two most common types of leases found in Austin).
If you’re an international student and do not have a U.S. guarantor (guarantors typically must reside in the U.S. and have a Social Security number), click here.
Click here for more FAQs, or here for the Austin Residence homepage.