Atlanta Apartment Renters: Basic Rental Requirements
Income requirements for renting Atlanta apartments will vary from community to community or from landlord to landlord. Minimum income requirements for leasing an apartment are in place to help renters be successful in their new home– with their ability not only to pay rent but also to buy groceries and to pay utilities. The JAMCO Properties, Inc. requirement, and industry standard, is a gross income of 3x’s the rental price. So, if the monthly rent is $600 for the unit you want, you will need a monthly income of $1800 ($21,600 annually before taxes).
Before you begin an apartment search it is a good idea to be aware of your income and spending habits because apartment community managers will run a credit and/or background check when you apply. Application fees are not a source of income for property managers but rather the application fee covers the costs third parties charge for running credit and background checks for the community. Again, these checks are done to help ensure a renter’s success in their new community.
Administration fees (admin fees) and security deposits are two additional costs a renter can be expected to pay before moving into an Atlanta apartment rental. Admin fees are non-refundable amounts and cover the cost of preparing and administering leases and paperwork done in the leasing office. A security deposit may be collected to make repairs for any unnecessary damages (outside of normal wear on the apartment). If the renter meets the requirements set out in the lease, all or part of a security deposit may be refunded when the tenant moves out of the apartment.
Minimum income requirements, application & admin fees and security deposits are all tools apartment communities use to help renters find the perfect fit. With a little planning, you can find more than a great place to live at one of JAMCO’s 21 metro Atlanta apartment communities. Most of our communities are now serving you with HALF OFF application fees and NO SECURITY DEPOSIT!
Posted on March 23, 2014, in Communities, Lifestyle, Time Savers and tagged affordable Atlanta apartments, apartment for rent, atlanta apartments. Bookmark the permalink. Comments Off on Atlanta Apartment Renters: Basic Rental Requirements.