A New Residents Guide To Apartment Terminology In Fishers
If you are searching for or have just relocated to your first apartment in Fishers, you may soon run into a word or expression you aren’t familiar with. You can always get in touch with the community’s leasing agents to get clarification, but many words are easy to figure out with a quick glance at an apartment glossary.
Have you come across a word you didn’t recognize? Wish to be more up to speed while you hunt for apartments? Check our list of apartment terminology in Fishers to discover more about apartment living.
Apartment Terminology You Need To Know When Looking For Fishers Communities
Accessible apartment
An apartment unit that is ADA compliant.
Addendum
An addition made to the standard lease document, such as a pet agreement detailing guidelines for pets living on site.
Amenity
Bonus features in a unit or in the community, such as in-unit laundry or a community swimming pool and health center.
Applicant
Anyone who applies for an apartment lease.
BR/BA
Bedrooms/Bathrooms. 2BR/1BA refers to two bedrooms and one bathroom in the unit.
Breed restrictions
Policies about what animal breeds are not authorized to live in an apartment.
Common areas
Communal areas available to all apartment Residents, such as the clubhouse, community amenities, laundry rooms, and green areas.
Concession
Funds applied to your account as a result of overpayment or special discounts.
E-payments
Rent payments made digitally versus by paper.
Elevator building
An apartment building featuring elevators for Residents. These are usually four or more stories.
Eviction
The legal procedure of property owners terminating your lease agreement and removing you from your apartment in response to your failing to comply with lease terms or community rules.
Fair housing laws
Rules that protect specified groups of people from unfair housing practices.
Galley kitchen
A narrow kitchen with counters, cabinets, and appliances on either side that are frequently found in apartment floor plans.
Garden apartment
Apartment buildings of no more than three stories that are surrounded by grassy or tree-lined areas.
Grace period
A brief window of time after your rent due date during which you can still remit payment without being charged with late fees or other penalties.
Guarantor
A co-signer who assumes financial responsibility for your lease if you cannot 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 outlines the terms and guidelines of renting an apartment.
Lockout policy
A property's procedure for providing access into your unit if you lock yourself out.
Long-term
A rental agreement of no less than 12 months.
Luxury apartments
Apartments with community amenities, appliances, and high-end finishes that exceed usual offerings.
Maintenance
The crew tasked with property maintenance and repairs. You should call them if there is something in need of repair in your apartment.
Market rate
The current cost of rent, determined by what comparable apartments are going for in the surrounding area.
Multi-family
A building with multiple apartments meant to house many households.
Occupancy standards
Limits on the number of individuals who may inhabit an apartment.
Online portal
A convenient digital platform for apartment Residents to request maintenance service, make a payment, ask a question, and more.
Pet policy
A community's rules for what pets are allowed or prohibited and the fees owed for keeping a pet in your apartment.
Prorate
A day-by-day calculation of rent if you move in or out halfway through a month, rather than requiring you to pay a whole month's rent.
Prospect
A potential apartment Resident who is looking for an apartment but hasn't signed a lease yet.
Renewal
The extension of your lease once the original agreement is up.
Renters insurance
An insurance plan that protects against personal property damage and loss in the event your apartment is impacted by a covered event.
Rent
The monthly payment you make to reside in your apartment.
Screen
Conducting a background check and reviewing your rental history during the application period.
Security deposit
A payment you make before starting your rental term. It is intended to cover unpaid rent or damages once your lease is up. If you depart with no rent due or damage, you are refunded your deposit.
Short-term
A lease for under 12 months.
Term
The length of time of your rental agreement.
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 get to via stairs as opposed to an elevator.
State at Fishers Is Ready To Answer Questions About Apartment Terminology In Fishers
Bring your questions about apartment terminology to the staff at The State! We’ll explain how leasing works and show you around our lovely apartments and community. Call us at 463-240-1709 or arrange a tour to discover the outstanding apartment lifestyle we have waiting for you.