Your Guide To Apartment Terminology In Fishers
If you are looking for or have recently moved into your first apartment in Fishers, you could come across a term you haven’t heard before. You can always get in touch with the community’s leasing office to get clarification, but some words are easily decipherable with a brief scan of an apartment glossary.
Have you heard a term you didn’t know? Would you like to be more informed while you apartment hunt? Check our list of apartment terminology in Fishers to get more familiar with apartment life.
Apartment Terminology To Know When Checking Out Fishers Communities
Accessible apartment
A unit that is wheelchair accessible.
Addendum
An addition made to the standard lease agreement, such as a pet agreement explaining rules around pets living on property.
Amenity
Additional features in a unit or in the community, such as in-unit washers and dryers or a community pool and health center.
Applicant
Any person who requests an apartment lease.
BR/BA
Bedrooms/Bathrooms. 2BR/1BA indicates two bedrooms and one bathroom in the apartment.
Breed restrictions
Rules for what animal breeds are restricted from living in an apartment.
Common areas
Communal areas accessible by all apartment Residents, such as the clubhouse, laundry rooms, green spaces, and community amenities.
Concession
A credit applied to your account due to overpayment or a special discount.
E-payments
Rent payments made digitally versus by paper.
Elevator building
An apartment building equipped with elevators for Residents. These are usually four stories or taller.
Eviction
The legal process of property management terminating your lease and removing you from your apartment in response to your violating lease terms or community policies.
Fair housing laws
Legal guidelines that shield certain groups of people from housing discrimination.
Galley kitchen
A narrow kitchen with cabinets, counters, and appliances on both sides that are common in apartment floor plans.
Garden apartment
Apartment buildings up to three stories that are nestled among grassy or wooded areas.
Grace period
A brief window of time after your rent due date during which you can still pay without being charged with late fees or other consequences.
Guarantor
A lease co-signer who is held financially liable if you are unable to or do not pay your rent.
Income requirement
An earnings threshold you must satisfy to be eligible to rent an apartment.
Lease
A tenancy agreement that states the terms and guidelines of renting an apartment.
Lockout policy
A property's rules for providing access into your apartment if you lock yourself out.
Long-term
A lease contract of no less than 12 months.
Luxury apartments
Apartments with premium finishes, appliances, and community amenities that exceed typical offerings.
Maintenance
The team in charge of property repairs and maintenance. You should reach out to them if you need something fixed in your apartment.
Market rate
The current rent cost, determined by what similar apartments are leasing for in the neighboring area.
Multi-family
A building with multiple apartments meant to house numerous households.
Occupancy standards
Limits on the number of individuals who may live in an apartment.
Online portal
A convenient internet platform for Residents to request a repair, make a payment, post a message, and more.
Pet policy
A community's guidelines for what pets are allowed or prohibited and the costs associated with keeping a pet in your apartment.
Prorate
A per diem calculation of rent if you move in or out in the middle of a billing cycle, instead of billing you an entire month's rent.
Prospect
A potential apartment Resident who is looking for an apartment but hasn't signed a lease yet.
Renewal
Continuing your lease once the original agreement is up.
Renters insurance
An insurance plan that provides coverage for personal property damage and loss in the event your apartment is affected by a disaster.
Rent
The monthly amount you pay to live in your apartment.
Screen
Performing a background check and evaluating your history as a tenant during the application process.
Security deposit
Money you pay before moving into your apartment. It is intended to cover unpaid rent or damages at the expiration of your lease. If you leave with no rent due or damage, you are refunded your deposit.
Short-term
A lease for under 12 months.
Term
The length of your lease contract.
Term fee
A fee you pay for ending your lease early.
Utilities
Electricity, gas, water, and garbage removal. These may or may not be factored into your rent.
Walk-up apartment
An apartment you access by flights of stairs as opposed to an elevator.
The District at Saxony Apartment Homes Is Happy To Answer Questions About Apartment Terminology In Fishers
Bring all your questions about apartment terms to the pros at The District! We’ll tell you how leasing works and show you our lovely apartments and community. Call us at 317-576-3057 or book a tour to discover the incredible apartment lifestyle we provide.