A New Residents Guide To Apartment Terminology In Bloomington
If you are hunting for or have recently settled into your first apartment in Bloomington, you might run into a term you haven’t heard before. You can always contact the community’s leasing agents to ask for clarification, but many words are easily understandable with a quick look at an apartment glossary.
Have you heard a phrase you didn’t recognize? Would you like to be more informed while you hunt for apartments? Review our list of apartment terminology in Bloomington to discover more about apartment living.
Apartment Terminology To Know When Searching For Bloomington Communities
Accessible apartment
A unit that is wheelchair accessible.
Addendum
An amendment to the basic lease contract, such as a Pet Addendum explaining guidelines for pets living on site.
Amenity
Additional features in an apartment or within the apartment community, such as in-unit washers and dryers or a community swimming pool and health center.
Applicant
Any individual who requests an apartment lease.
BR/BA
Bedrooms/Bathrooms. 2BR/1BA means two bedrooms and one bathroom in the apartment.
Breed restrictions
Policies about what animal breeds are not allowed to live in an apartment.
Common areas
Shared areas accessible by all apartment Residents, such as the clubhouse, laundry rooms, walking areas, and community amenities.
Concession
Money credited to your account due to overpayment or a special offer.
E-payments
Rent payments made digitally instead of by paper.
Elevator building
A multi-level apartment featuring elevators for Residents. These are usually four stories or taller.
Eviction
The legal process of property owners terminating your lease and removing you from your apartment due to you failing to comply with lease terms or community policies.
Fair housing laws
Laws that protect certain groups of people from housing discrimination.
Galley kitchen
A narrow kitchen with cabinets, counters, and appliances on either side that are common in apartment floor plans.
Garden apartment
Apartment buildings up to three stories that are surrounded by grassy or wooded areas.
Grace period
A short time period after your rent is due during which you can still remit payment without being charged with late fees or other consequences.
Guarantor
A co-signer who assumes financial responsibility for your lease if you fail to pay your rent.
Income requirement
A minimum income level you must reach to be eligible to rent an apartment.
Lease
A rental contract that states the guidelines and terms of renting an apartment.
Lockout policy
A property's process for letting you into your unit if you lock yourself out.
Long-term
A rental agreement of no less than 12 months.
Luxury apartments
Apartments with appliances, community amenities, and upscale finishes that exceed standard offerings.
Maintenance
The team responsible for maintenance and repairs of apartments. You should reach out to them if you need something fixed in your apartment.
Market rate
The current going rate for rent, according to what similar apartments are leasing for in the surrounding area.
Multi-family
A building with multiple apartments built to serve numerous households.
Occupancy standards
Limits on the number of individuals who may live in an apartment.
Online portal
A convenient way for apartment Residents to pay rent online, post a message, submit a maintenance request, and more.
Pet policy
A community's guidelines for which pets are permitted or restricted and the fees associated with having a pet on the premises.
Prorate
A per diem calculation of rent if you arrive or depart in the middle of a billing cycle, rather than charging you an entire month's rent.
Prospect
A would-be Resident who is searching for an apartment but hasn't signed a lease yet.
Renewal
Continuing your lease once the original agreement is up.
Renters insurance
An insurance policy that protects against personal property damage and loss in case your apartment is impacted by a covered event.
Rent
The monthly cost you pay to occupy your apartment.
Screen
Running a background check and reviewing your rental history during the approval process.
Security deposit
A payment you make before moving into your apartment. It is designed to cover unpaid rent or damages at the expiration of your lease. If you depart with no outstanding rent or damage, you are refunded your deposit.
Short-term
A lease for under 12 months.
Term
The duration of your apartment lease.
Term fee
A fee 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 accessed by stairs instead of an elevator.
City Flats at Renwick Is Ready To Answer Questions About Apartment Terminology In Bloomington
Bring all your questions about apartment vocabulary to the pros at City Flats at Renwick! We’ll let you know how leasing works and show you our stunning apartments and community. Give us a call at 812-578-7432 or schedule a tour to learn more about the amazing apartment lifestyle we provide.