Your Guide To Apartment Terminology In Carmel
If you are hunting for or have just moved into your first apartment in Carmel, you might run into a word or expression you don’t know. You can always contact the community’s leasing agents to get clarification, but many words are easily understandable with a quick look at an apartment glossary.
Have you run into a term you didn’t know? Wish to be more in the know while you hunt for apartments? Use this list of apartment terminology in Carmel to learn more about apartment life.
Apartment Terminology You Should Know When Looking For Carmel Communities
Accessible apartment
An apartment that is ADA compliant.
Addendum
An addition to the standard lease document, such as a pet policy explaining guidelines for pets living in the apartment.
Amenity
Bonus features in a unit or in the apartment community, such as an in-unit washer and dryer or a community swimming pool and health center.
Applicant
Anyone who requests an apartment lease.
BR/BA
Bedrooms/Bathrooms. 2BR/2BA means two bedrooms and two bathrooms in the unit.
Breed restrictions
Rules for what dog breeds are restricted from living in an apartment.
Common areas
Shared areas open to all apartment Residents, such as the clubhouse, laundry facilities, green spaces, and community amenities.
Concession
Funds applied to your account because of overpayment or special discounts.
E-payments
Rent payments submitted digitally instead of by paper.
Elevator building
A multi-level apartment with elevators for Residents. These are generally at least four floors.
Eviction
The legal act of property management terminating your lease and requiring you to vacate in response to your failing to comply with lease terms or community rules.
Fair housing laws
Laws that protect specific classes of people from housing discrimination.
Galley kitchen
A narrow kitchen with appliances, counters, and cabinets on either side that are commonly found in apartment floor plans.
Garden apartment
Apartment buildings up to three stories that are set amid grassy or tree-lined areas.
Grace period
A brief window of time after your rent is due during which you can still remit payment without facing late fees or other charges.
Guarantor
A lease co-signer who is held financially liable if you are unable to or do not pay your rent.
Income requirement
A minimum income level you must satisfy to qualify for renting an apartment.
Lease
A rental agreement that details 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 community amenities, appliances, and high-end finishes that exceed usual offerings.
Maintenance
The crew responsible for repairs and maintenance of apartments. You should reach out to them if you have a repair need in your apartment.
Market rate
The current rent cost, determined by prices of comparable apartments in the local area.
Multi-family
An apartment building with multiple units meant to house many households.
Occupancy standards
Restrictions on the number of individuals who may inhabit an apartment.
Online portal
A convenient internet platform for Residents to make a payment, submit maintenance requests, post a message, and more.
Pet policy
A community's rules for what pets are allowed or prohibited and the fees associated with housing a pet on the premises.
Prorate
A per diem calculation of rent if you begin or end your tenancy halfway through a month, rather than requiring you to pay a whole month's rent.
Prospect
A possible future Resident who is searching for an apartment but has not agreed to a lease yet.
Renewal
Continuing your lease once the initial term is over.
Renters insurance
An insurance policy that covers specified personal property damage and loss in the event your apartment is affected by a disaster.
Rent
The money you pay each month to occupy your apartment.
Screen
Conducting a background check and assessing your rental history during the application period.
Security deposit
A payment you make before moving into your apartment. It is meant 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 less than 12 months.
Term
The length of time of your rental agreement.
Term fee
A fee you pay for terminating your lease early.
Utilities
Electricity, garbage removal, water, and gas. 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.
North Haven Apartments Is Pleased To Answer Questions About Apartment Terminology In Carmel
Bring all your questions about apartment vocabulary to the staff at North Haven! We’ll help you understand the leasing process and show you our stunning apartments and community. Contact us at 317-350-1875 or book a tour to discover the amazing apartment lifestyle we provide.