Hunting for and renting an apartment is very exciting but can also become frustrating when a potential renter does not have basic knowledge. A basic foundation will save future occupants hours of time and money when it comes to the big move. From leasing terms to pet deposits, get the top ten key terms for apartment search and rental.
Application Fee - A fee paid to process the application for an apartment lease. Management determines the price of the application fee and it is usually nonrefundable.
Deposit - Money given to show the intention of renting a property. The deposit is usually refundable. Deposits are refunded after the renter moves out. Pet deposits are different from general deposits. Apartments that are pet friendly require the deposit in case the pet causes damage. There may be a furniture deposit when a unit comes pre-furnished.
Lease - Identifies the rental party, property, duration of the rental agreement and the amount for the rental.
Apartment - Suite of rooms creating a large residence in a set of buildings.
Studio - One main room. A studio apartment is ideal for college students. These apartments may come already furnished.
Loft - Two-story, large, open space. The upper room does not close off. Lofts are often uses for vacation rentals.
Condo - Form of housing unit grouped like an apartment building. Condos are more on the luxury end of apartment renting.
Townhouse - Row house having two or three floors, with at least two bedrooms.
Section 8 - Rent program allowing low-income families to procure cheap and suitable living arrangements.
Amenities - Desirable or useful feature of a living space; conveniences.
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Rentals provide roomy homes without a mortgage. Some people simply do not qualify for loans, others simply prefer to lease. No matter what situation you're in, leasing property ensures there is housing available. Find this housing through local papers or websites.
Those looking for suitable housing usually have a range of options. Condos and townhouses have separate bedrooms and possibly a garage. Depending on the community, many establishments are pet-friendly. These tend to be popular options for couples, families, and vacationers. Save money on hotel charges by leasing a furnished luxury vacation home.
Apartments usually come in one-bedroom, studio, or loft floor plans. The latter forms of lodging generally have an open floor plan that combines the living and sleeping areas. Some studios combine the living area with a small overhead area to provide a separate place to sleep. These floor plans are generally open and spacious with great lighting. College students taking art classes love the natural lighting. As a result, this type of housing is popular with singles and students.
Section 8 housing suits those with low incomes. The cheap housing ensures those on welfare or disability have safe housing. Look for Section 8 housing to include condos, apartments, and even mobile homes.
Set a budget before you start apartment hunting. Many factors raise rents. Pet owners may be required to carry insurance against damages caused by their cat or dog. College students may find it cheaper to lease furnished houses and split the costs. Make sure you've compared a number of properties. Get details into provided furniture, appliances, and amenities. You'll save hassle by completely understanding the terms before you move.