Your Guide To Apartment Terminology In Noblesville
If you are hunting for or have recently relocated to your first apartment in Noblesville, you might come across a word or phrase you aren’t familiar with. You can always get in touch with the community’s leasing office to get clarification, but many words are easily decipherable with a quick look at an apartment glossary.
Have you come across a term you didn’t recognize? Want to be more informed while you hunt for apartments? Use this list of apartment terminology in Noblesville to discover more about apartment life.
Apartment Terminology You Should Know When Checking Out Noblesville Communities
Accessible apartment
A unit that is handicap accessible.
Addendum
An amendment to the standard lease contract, such as a Pet Addendum outlining rules around pets living on site.
Amenity
Additional features in an apartment or within the community, such as an in-unit washer and dryer or a community pool and gym.
Applicant
Any person who submits an application for an apartment lease.
BR/BA
Bedrooms/Bathrooms. 3BR/2BA indicates three bedrooms and two bathrooms in the unit.
Breed restrictions
Policies about what dog breeds are not authorized to live in an apartment.
Common areas
Shared areas accessible by all apartment Residents, such as the community amenities, green spaces, laundry facilities, and clubhouse.
Concession
Money credited to your account due to overpayment or special discounts.
E-payments
Rent payments made online instead of by paper.
Elevator building
A multi-level apartment with elevators for Residents. These are typically four stories or taller.
Eviction
The legal act of property management terminating your lease agreement and forcing you to vacate due to you breaching lease terms or community rules.
Fair housing laws
Legal guidelines that shield specified groups of people from unfair treatment in housing.
Galley kitchen
A narrow kitchen with counters, cabinets, and appliances on both sides that are common in apartment floor plans.
Garden apartment
Apartment buildings as tall as three stories that are nestled among grassy or tree-lined areas.
Grace period
A brief window of time after your rent due date during which you may still pay without facing late fees or other penalties.
Guarantor
A lease co-signer who is held financially responsible if you cannot or do not pay your rent.
Income requirement
A minimum income level you must satisfy to be eligible to rent an apartment.
Lease
A rental contract that details the terms and guidelines of renting an apartment.
Lockout policy
A property's process for letting you into your apartment if you get locked out.
Long-term
A lease contract of at least 12 months.
Luxury apartments
Apartments with community amenities, appliances, and premium finishes that exceed typical offerings.
Maintenance
The staff tasked with repairs and maintenance of apartments. You should contact them if you have a repair need in your apartment.
Market rate
The current cost of rent, determined by what similar apartments are leasing for in the surrounding area.
Multi-family
A building with multiple apartment units meant to house numerous households.
Occupancy standards
Guidelines regarding the number of individuals who may live in an apartment.
Online portal
A convenient way for apartment Residents to request a repair, submit a payment, post a message, and more.
Pet policy
A community's rules for what pets are allowed or prohibited 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 a whole month's rent.
Prospect
A potential apartment Resident who is trying to find an apartment but has not signed a lease yet.
Renewal
The continuation of your lease once the original agreement is up.
Renters insurance
An insurance plan that protects against personal property damage and loss in the event your apartment suffers a catastrophe.
Rent
The monthly amount you pay to occupy your apartment.
Screen
Running a background check and assessing your past rental record during the application period.
Security deposit
Funds you submit before starting your rental term. It is intended to cover outstanding rent or damages at the expiration of your lease. If you leave with no outstanding rent or damage, you get your deposit back.
Short-term
A lease for under 12 months.
Term
The duration of your rental agreement.
Term fee
A penalty you pay for canceling your lease early.
Utilities
Electricity, garbage removal, water, and gas. These may or may not be included in your rent.
Walk-up apartment
An apartment you get to via stairs as opposed to an elevator.
Hyde Park Towns & Flats Is Ready To Answer Questions About Apartment Terminology In Noblesville
Bring all your questions about apartment terms to the pros at Hyde Park! We’ll tell you how leasing works and introduce you to our lovely apartments and community. Call us at 317-316-3551 or book a tour to learn more about the incredible apartment living experience we offer.