A New Residents Guide To Apartment Terminology In Carmel
If you are searching for or have recently settled into your first apartment in Carmel, you could encounter a term you haven’t heard before. You can always contact the community’s office staff to get clarification, but most words are easily decipherable with a quick glance at an apartment glossary.
Have you heard a word you didn’t recognize? Would you like to be more informed while you apartment hunt? Use this list of apartment terminology in Carmel to discover more about apartment life.
Apartment Terminology You Should Know When Looking For Carmel Communities
Accessible apartment
An apartment unit that is ADA compliant.
Addendum
An addition to the basic lease document, such as a pet agreement explaining policies on pets living on site.
Amenity
Extra features in a unit or in the apartment community, such as in-unit washers and dryers or a community health center or swimming pool.
Applicant
Any person who requests an apartment lease.
BR/BA
Bedrooms/Bathrooms. 3BR/2BA indicates three bedrooms and two bathrooms within the apartment.
Breed restrictions
Rules for what animal breeds are prohibited from living in an apartment.
Common areas
Communal areas accessible by all Residents, such as the clubhouse, community amenities, laundry facilities, and property grounds.
Concession
A credit applied to your account as a result of overpayment or a special discount.
E-payments
Rent payments made digitally versus in paper form.
Elevator building
An apartment building with elevators for Residents. These are typically at least four floors.
Eviction
The legal process 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 policies.
Fair housing laws
Laws that protect specified groups of people from unfair treatment in housing.
Galley kitchen
A narrow kitchen with appliances, counters, and cabinets on both sides that are common in apartment floor plans.
Garden apartment
Apartment buildings as tall as three stories that are set amid grassy or tree-lined areas.
Grace period
A short period of time after your rent due date during which you may still remit payment without facing late fees or other penalties.
Guarantor
A co-signer who assumes financial responsibility for your lease if you are unable to or do not pay your rent.
Income requirement
A minimum income level you must meet 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 apartment if you get locked out.
Long-term
A rental agreement of no fewer than 12 months.
Luxury apartments
Apartments with high-end finishes, features, and community amenities that exceed typical offerings.
Maintenance
The crew responsible for apartment repairs and maintenance. You should reach out to them if you have a repair need in your apartment.
Market rate
The current cost of rent, determined by what comparable apartments are going for in the local area.
Multi-family
An apartment building with multiple units built to serve numerous households.
Occupancy standards
Restrictions on the number of individuals who may inhabit an apartment.
Online portal
A convenient digital platform for Residents to make a payment, communicate with staff, request a repair, and more.
Pet policy
A community's rules for which pets are permitted or restricted and the costs associated with housing a pet on the premises.
Prorate
A per day calculation of rent if you begin or end your tenancy in the middle of a billing cycle, rather than charging you a whole month's rent.
Prospect
A possible future Resident who is looking for an apartment but hasn't agreed to a lease yet.
Renewal
The continuation of your lease once the original agreement is up.
Renters insurance
An insurance plan that covers specified personal property damage and loss in the event your apartment suffers a catastrophe.
Rent
The monthly amount you pay to live in your apartment.
Screen
Performing a background check and assessing your history as a tenant during the application process.
Security deposit
Money you pay before moving into your apartment. It is designed to cover outstanding rent or damages once your lease is up. If you vacate with no damage or rent owed, you receive your deposit back.
Short-term
A lease for under 12 months.
Term
The length of your rental agreement.
Term fee
A charge you pay for ending your lease early.
Utilities
Gas, water, electricity, and garbage removal. These may or may not be covered in your rent.
Walk-up apartment
An apartment you access by flights of stairs rather than an elevator.
Highpointe on Meridian Apartments Is Pleased To Answer Questions About Apartment Terminology In Carmel
Bring your questions about apartment vocabulary to the staff at Highpointe! We’ll explain how leasing works and introduce you to our stunning apartments and community. Call us at (317) 342-0670 or arrange a tour to learn more about the amazing apartment lifestyle we have waiting for you.