A New Residents Guide To Apartment Terminology In Carmel
If you are hunting for or have recently settled into your first apartment in Carmel, you might run into 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 easy to decipher with a quick look at an apartment glossary.
Have you come across a term you didn’t know? Wish to be more informed while you hunt for apartments? Check our list of apartment terminology in Carmel to get more familiar with apartment life.
Apartment Terminology To Know When Checking Out Carmel Communities
Accessible apartment
A unit that is ADA compliant.
Addendum
An addition made to the standard lease document, such as a pet agreement explaining policies on pets living on site.
Amenity
Bonus features in a unit or within the community, such as an in-unit washer and dryer or a community swimming pool and fitness center.
Applicant
Any person who requests an apartment lease.
BR/BA
Bedrooms/Bathrooms. 2BR/1BA means two bedrooms and one bathroom in the unit.
Breed restrictions
Guidelines on what dog breeds are restricted from living in an apartment.
Common areas
Communal spaces available to all apartment Residents, such as the community amenities, property grounds, laundry facilities, and clubhouse.
Concession
Money credited to your account as a result of overpayment or special discounts.
E-payments
Rent payments made digitally instead of by paper.
Elevator building
A multi-level apartment equipped with elevators for Residents. These are generally at least four floors.
Eviction
The legal process of property management ending your lease agreement and requiring you to vacate as a result of you breaching lease terms or community policies.
Fair housing laws
Laws that shield specific classes of people from housing discrimination.
Galley kitchen
A narrow kitchen with counters, cabinets, and appliances on both sides that are frequently found in apartment floor plans.
Garden apartment
Apartment buildings of no more than three stories that are set amid grassy or tree-lined areas.
Grace period
A short time period after your rent is due during which you may still pay without facing late fees or other penalties.
Guarantor
A co-signer who agrees to take financial responsibility for your lease if you cannot or do not pay your rent.
Income requirement
A minimum income level you must meet to qualify for renting an apartment.
Lease
A tenancy agreement that states the guidelines and terms of renting an apartment.
Lockout policy
A property's procedure for providing access into your apartment if you accidentally lock yourself out.
Long-term
A rental agreement of no fewer than 12 months.
Luxury apartments
Apartments with appliances, community amenities, and upscale finishes that go beyond builder-grade offerings.
Maintenance
The crew tasked with maintenance and repairs of apartments. You should reach out to them if there is something in need of repair in your apartment.
Market rate
The current rent cost, based on prices of comparable apartments in the neighboring area.
Multi-family
A building with multiple apartments built to serve many households.
Occupancy standards
Limits on the number of people who may inhabit an apartment.
Online portal
A convenient digital platform for Residents to make a payment, request maintenance service, communicate to staff, and more.
Pet policy
A community's guidelines for which pets are permitted or restricted and the fees owed for housing a pet on the premises.
Prorate
A day-by-day calculation of rent if you move in or out partway through a month, rather than requiring you to pay an entire month's rent.
Prospect
A potential apartment Resident who is looking for an apartment but has not committed to a lease yet.
Renewal
The extension of your lease once the original agreement is up.
Renters insurance
An insurance plan that covers specified personal property damage and loss in case your apartment is affected by a disaster.
Rent
The monthly amount you pay to occupy your apartment.
Screen
Conducting a background check and assessing your history as a tenant during the approval process.
Security deposit
Money you pay before moving into your apartment. It is meant 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 less than 12 months.
Term
The length of time of your lease contract.
Term fee
A fee you pay for terminating 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 instead of an elevator.
One One Six Apartments Is Happy To Answer Questions About Apartment Terminology In Carmel
Bring all your questions about apartment vocabulary to the team at One One Six Apartments! We’ll help you understand the leasing process and show you around our beautiful apartments and community. Call us at (317) 350-1941 or schedule a tour to discover the outstanding apartment living experience we provide.