Finding an apartment as a young, first-time renter can be exciting, but your age can be a bigger factor than cost. While landlords want financially responsible tenants, they also want individuals who are of a certain age, mostly for legal reasons.
Many landlords hire a property manager in Texas to handle the rigorous tenant screening process, which typically includes a background check and income verification. The results from this search, plus your age, will determine whether you can lease the place or not.
To ease the confusion, continue reading this article as we will cover all you need to know about the renting age limit and the lease obligations of new renters.
Why Age Requirements Matter when Renting an Apartment?
Contracts are legal agreements that require a party to perform an action, such as pay a certain amount of money. Because of this, there are age requirements. When leasing an apartment, one has to consider the “age of majority” in that specific state. This is the age at which a person can legally enter into a contract.
In Texas, that age is 18. When a person signs a contract, it is not legally binding unless that person can be held liable for that contract. This means that landlords can’t be held liable for the contracts minors sign.
Because of this, landlords have the legal right to exclude agreements with minors. Age requirements create a balanced system of legal protections for everyone involved.
Reasons Landlords Have Age Requirements
Image Alt Text: Woman Talking To Agent
Landlords are not being overly controlling when it comes to setting age limits on tenants. These requirements come from some legal and some practical business concerns. Here are some of the reasons why age is a factor when it comes to rental agreements.
Following Local Housing Laws
State housing laws generally give an age when a person can enter into a legal, binding contract. In Texas, the age of majority is 18. Because of this, landlords are legally obligated not to rent to anyone under 18.
Renting to a minor would create a situation in which the lease would be unenforceable and leave the landlord in a situation where they would be legally unable to evict a tenant for nonpayment. Making age requirements helps landlords follow the law and helps them protect their investments.
Accountability on Lease Compliance
A lease is a promise, and for a landlord to trust that promise, they need to know that the tenant can legally be held responsible for the promise of paying rent on time, keeping the property intact, and not breaking community rules.
When a lease is broken, for example, when you damage a modern property upgrades (fixtures), landlords can legally take an adult to court. The adult can also face a financial penalty as well as negative impacts on their credit report. Because of this, most landlords will not rent to anyone underage, as they will not be able to legally enforce the terms of the lease.
The Role of Co-Signers and Guarantors
As a first-time renter, there’s a chance you might not meet the landlord’s requirements entirely. This is where co-signers, sometimes called “Guarantors”, come in to sign the lease with you and agree to cover rent or any other liability when you can’t.
When Do You Need a Co-Signer?
If you lack certain qualifications, the landlords will likely require a co-signer. This may include things such as being under eighteen (with certain legal exceptions), having a negative credit score, having no income (typically if income is less than 3x the rent due each month), or having no prior rental history.
In Texas, many landlords work with a property manager, and the property manager does the first, and often the most comprehensive, background checks, including income verification, and will make the determination about the necessity for a co-signer.
What Landlords Look for in a Co-Signer
Requirements for co-signers are often stricter than requirements for tenants. Landlords usually require co-signers to have a credit score of 650 or above and to have an income that is at least 3x the rent.
The rental agreement includes the co-signer’s payment history and credit report. Co-signers are appreciated because landlords are assuming a financial risk by permitting the tenant to stay, so they prefer co-signers who are dependable and able to assume financial responsibility if needed.
Responsibilities and Risks
There is an enormous legal responsibility that comes with co-signing. If you are late on paying the rent, your landlord will also go after the co-signer, regardless of what is owed.
This includes late payments and damages, and even costs for evicting you. Co-signers are stuck with the lease for the entire term unless the landlord lets them off, which is usually the case for lease renewals or transfers. Because of this, most co-signers are family members.
How Can Property Managers Help First-Time Renters Navigate the Process?
Property managers help first-time renters understand the requirements for a rent application. They help renters understand the requirements of the lease, the steps to take during the application process, and the documents required, including the proof of income and rental history.
In assisting young renters, property managers help arrange with co-signers and ensure that all parties are aware of their responsibilities. They respond to lease questions, maintenance, and the payment system.
With guidance and communication, property managers assist first-time renters in presenting themselves as suitable applicants.
Final Thoughts
Respecting age limitations when renting is essential. Determining the right age when renting an apartment is often considered the “age of majority” in your specific state, as this is when you can legally sign a binding contract.
Fortunately, renting your first apartment is much easier in a property handled by a property manager. They will walk you through all you need to know regarding financial and personal obligations to have a pleasant renting experience.
You can also lean on your guarantors, who can be parents or trusted family members. With the right support, first-time renters can secure their first apartment with ease.