A New Residents Guide To Apartment Terminology In Indianapolis
If you are hunting for or have just moved into your first apartment in Indianapolis, you may soon come across a term you haven’t heard before. You can always contact the community’s leasing agents to ask for clarification, but some words are easy to decipher with a brief scan of an apartment glossary.
Have you heard a term you didn’t recognize? Wish to be more in the know while you search for apartments? Review our list of apartment terminology in Indianapolis to get more familiar with apartment living.
Apartment Terminology You Should Know When Looking For Indianapolis Communities
Accessible apartment
A unit that is wheelchair accessible.
Addendum
An addition to the basic lease contract, such as a pet agreement outlining rules around pets living in the apartment.
Amenity
Extra features in a unit or within the community, such as in-unit washers and dryers or a community pool and fitness center.
Applicant
Any person who requests an apartment lease.
BR/BA
Bedrooms/Bathrooms. 2BR/2BA indicates two bedrooms and two bathrooms in the apartment.
Breed restrictions
Policies about what animal breeds are not permitted to live in an apartment.
Common areas
Communal spaces accessible by all apartment Residents, such as the clubhouse, community amenities, laundry facilities, and green areas.
Concession
A credit applied to your account as a result of overpayment or a special discount.
E-payments
Rent payments submitted digitally instead of in paper form.
Elevator building
An apartment building equipped with elevators for Residents. These are typically at least four floors.
Eviction
The legal procedure of property owners ending your lease agreement and requiring you to vacate as a result of you breaching lease terms or community rules.
Fair housing laws
Legal guidelines 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 up to three stories that are surrounded by grassy or tree-lined areas.
Grace period
A brief window of time after your rent is due during which you can still make your payment without incurring late fees or other consequences.
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 approved for renting an apartment.
Lease
A tenancy agreement that outlines the guidelines and terms of renting an apartment.
Lockout policy
A property's procedure for supplying access into your unit if you accidentally lock yourself out.
Long-term
A lease contract of at least 12 months.
Luxury apartments
Apartments with high-end finishes, appliances, and community amenities that surpass usual offerings.
Maintenance
The staff in charge of 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, according to prices of comparable apartments in the surrounding area.
Multi-family
A building with multiple apartment units built to serve numerous households.
Occupancy standards
Restrictions on the number of people who may reside in an apartment.
Online portal
A convenient digital platform for apartment Residents to pay rent, request maintenance service, post a message, and more.
Pet policy
A community's rules for what pets are allowed or prohibited and the costs associated with keeping a pet in your unit.
Prorate
A per diem calculation of rent if you begin or end your tenancy halfway through a month, rather than billing you an entire month's rent.
Prospect
A potential apartment Resident who is searching for an apartment but hasn't agreed to a lease yet.
Renewal
The continuation of your lease after its initial term ends.
Renters insurance
An insurance plan that protects against personal property damage and loss in the event your apartment is affected by a disaster.
Rent
The amount you pay each month to occupy your apartment.
Screen
Running a background check and evaluating your past rental record during the approval process.
Security deposit
Funds you submit before taking occupancy of your apartment. It is designed to cover outstanding rent or damages at the expiration of your lease. If you leave with no damage or rent owed, you get your deposit back.
Short-term
A lease for less than 12 months.
Term
The length of time of your lease contract.
Term fee
A penalty you pay for canceling your lease early.
Utilities
Electricity, gas, water, and garbage removal. These may or may not be covered in your rent.
Walk-up apartment
An apartment you access by flights of stairs as opposed to an elevator.
City's End - Fountain Square Apartments Is Ready To Answer Questions About Apartment Terminology In Indianapolis
Bring your questions about apartment vocabulary to the team at City's End! We’ll explain how leasing works and show you around our beautiful apartments and community. Give us a call at 463-231-3192 or book a tour to discover the outstanding apartment lifestyle we offer.