A New Residents Guide To Apartment Terminology In Fishers
If you are searching for or have recently moved into your first apartment in Fishers, you might come across a word or phrase you don’t recognize. You can always reach out to the community’s office staff to clear things up, but most words are easily understandable with a quick look at an apartment glossary.
Have you run into a phrase you were unfamiliar with? Want to be more in the know while you hunt for apartments? Use this list of apartment terminology in Fishers to discover more about apartment living.
Apartment Terminology You Need To Know When Searching For Fishers Communities
Accessible apartment
An apartment that is ADA compliant.
Addendum
An amendment to the primary lease agreement, such as a pet agreement outlining guidelines for pets living on site.
Amenity
Additional features in an apartment or in the apartment community, such as in-unit washers and dryers or a community health center or swimming pool.
Applicant
Any individual who applies for an apartment lease.
BR/BA
Bedrooms/Bathrooms. 2BR/2BA specifies two bedrooms and two bathrooms within the apartment.
Breed restrictions
Rules for what dog breeds are prohibited from living in an apartment.
Common areas
Shared spaces accessible by all Residents, such as the clubhouse, community amenities, laundry rooms, and property grounds.
Concession
Funds applied to your account because of overpayment or a special offer.
E-payments
Rent payments made online as opposed to in paper form.
Elevator building
An apartment building equipped with elevators for Residents. These are usually four or more stories.
Eviction
The legal process of property management ending your lease agreement and removing you from your apartment as a result of you failing to comply with lease terms or community rules.
Fair housing laws
Rules that shield specified groups of people from housing discrimination.
Galley kitchen
A narrow kitchen with counters, cabinets, and appliances on either side that are common in apartment floor plans.
Garden apartment
Apartment buildings of no more than three stories that are surrounded by grassy or wooded areas.
Grace period
A brief window of time following your rent due date during which you may still pay without facing late fees or other charges.
Guarantor
A co-signer who takes financial responsibility for your lease if you are unable to or do not pay your rent.
Income requirement
An income threshold you must satisfy to be approved for renting an apartment.
Lease
A rental agreement that states the terms and conditions of renting an apartment.
Lockout policy
A property's procedure for providing access into your unit if you accidentally lock yourself out.
Long-term
A lease contract of no fewer than 12 months.
Luxury apartments
Apartments with appliances, community amenities, and upscale finishes that surpass typical offerings.
Maintenance
The staff tasked with property repairs and maintenance. You should reach out to them if you have a repair need in your apartment.
Market rate
The current going rate for rent, according to what similar apartments are leasing for in the surrounding area.
Multi-family
An apartment building with multiple units meant to house many households.
Occupancy standards
Guidelines regarding the number of individuals who may inhabit an apartment.
Online portal
A convenient way for apartment Residents to request maintenance, make payments, communicate with staff, and more.
Pet policy
A community's guidelines for what pets are allowed or prohibited and the fees associated with keeping a pet in your apartment.
Prorate
A day-by-day calculation of rent if you begin or end your tenancy halfway through a month, instead of charging you an entire month's rent.
Prospect
A would-be Resident who is searching for an apartment but hasn't committed to a lease yet.
Renewal
Extending your lease after its initial term ends.
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 reside in your apartment.
Screen
Conducting a background check and assessing your history as a tenant during the application process.
Security deposit
Money you pay before starting your rental term. It is designed to cover unpaid rent or damages upon moving out. If you depart with no rent due or damage, you receive your deposit back.
Short-term
A lease for less than 12 months.
Term
The length of time of your apartment lease.
Term fee
A fee you pay for canceling your lease early.
Utilities
Gas, water, electricity, and garbage removal. These may or may not be included in your rent.
Walk-up apartment
An apartment you get to via stairs rather than an elevator.
Spark Apartments Is Happy To Answer Questions About Apartment Terminology In Fishers
Bring your questions about apartment terms to the pros at Spark! We’ll take you through the leasing process and introduce you to our beautiful apartments and community. Contact us at 463-210-1702 or book a tour to learn more about the outstanding apartment living experience we provide.