Your Guide To Apartment Terminology In Noblesville
If you are looking for or have recently relocated to your first apartment in Noblesville, you may soon come across a word or phrase you don’t recognize. You can always get in touch with the community’s leasing agents to get clarification, but some words are easy to decipher with a brief scan of an apartment glossary.
Have you run into a phrase you were unfamiliar with? Would you like to be more informed while you apartment hunt? Review our list of apartment terminology in Noblesville to get more familiar with apartment living.
Apartment Terminology You Should Know When Checking Out Noblesville Communities
Accessible apartment
An apartment that is handicap accessible.
Addendum
An addition made to the basic lease contract, such as a pet agreement explaining guidelines for pets living in the apartment.
Amenity
Bonus features in an apartment or within the apartment community, such as in-unit laundry or a community gym or pool.
Applicant
Any individual who applies for an apartment lease.
BR/BA
Bedrooms/Bathrooms. 2BR/1BA refers to two bedrooms and one bathroom within the apartment.
Breed restrictions
Rules for what dog and animal breeds are not permitted to live in an apartment.
Common areas
Communal spaces available to all Residents, such as the clubhouse, laundry facilities, walking areas, and community amenities.
Concession
A credit applied to your account due to overpayment or special discounts.
E-payments
Rent payments made digitally versus by paper.
Elevator building
A multi-level apartment with elevators for Residents. These are generally at least four floors.
Eviction
The legal procedure of property management ending your lease agreement and removing you from your apartment as a result of you violating lease terms or community rules.
Fair housing laws
Rules that shield certain groups of people from unfair treatment in housing.
Galley kitchen
A narrow kitchen with cabinets, counters, 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 wooded areas.
Grace period
A short time period after your rent is due during which you can still pay without facing late fees or other charges.
Guarantor
A lease co-signer who is held financially liable if you cannot or do not pay your rent.
Income requirement
A minimum income level you must reach to qualify for renting an apartment.
Lease
A rental agreement that outlines the terms and guidelines of renting an apartment.
Lockout policy
A property's rules for letting you into your apartment if you accidentally lock yourself out.
Long-term
A lease of at least 12 months.
Luxury apartments
Apartments with upscale finishes, features, and community amenities that surpass standard offerings.
Maintenance
The team tasked with repairs and maintenance of apartments. You should call them if you have a repair need in your apartment.
Market rate
The current cost of rent, according to prices of comparable apartments in the surrounding area.
Multi-family
A building with multiple apartments built to serve many households.
Occupancy standards
Guidelines regarding the number of people who may reside in an apartment.
Online portal
A convenient internet platform for Residents to pay rent, request maintenance, post a message, and more.
Pet policy
A community's guidelines for which animals are allowed or restricted and the costs associated with having a pet in your unit.
Prorate
A per diem calculation of rent if you arrive or depart halfway through a month, rather than billing you the entire month's rent.
Prospect
A would-be Resident who is trying to find an apartment but hasn't signed a lease yet.
Renewal
The continuation of your lease once the original agreement is up.
Renters insurance
An insurance plan that provides coverage for personal property damage and loss in the event your apartment suffers a catastrophe.
Rent
The amount you pay each month to reside in your apartment.
Screen
Conducting a background check and assessing your rental history during the approval process.
Security deposit
Funds you submit before starting your rental term. It is designed to cover outstanding 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 less than 12 months.
Term
The length of time of your apartment lease.
Term fee
A fee you pay for terminating your lease early.
Utilities
Gas, water, electricity, and garbage removal. These may or may not be factored into your rent.
Walk-up apartment
An apartment accessed by stairs rather than an elevator.
East Bank Apartments Is Ready To Answer Questions About Apartment Terminology In Noblesville
Bring all your questions about apartment terminology to the pros at East Bank! We’ll explain how leasing works and show you around our lovely apartments and community. Call us at 463-238-3799 or book a tour to learn more about the amazing apartment lifestyle we provide.