A New Residents Guide To Apartment Terminology In West Lafayette
If you are hunting for or have recently settled into your first apartment in West Lafayette, you could run into a word or phrase you aren’t familiar with. You can always contact the community’s leasing agents to get clarification, but some words are easily understandable with a quick glance at an apartment glossary.
Have you come across a word you were unfamiliar with? Want to be more up to speed while you search for apartments? Check our list of apartment terminology in West Lafayette to discover more about apartment life.
Apartment Terminology You Should Know When Checking Out West Lafayette Communities
Accessible apartment
An apartment unit that is ADA compliant.
Addendum
An addition to the primary lease contract, such as a pet policy outlining rules around pets living on site.
Amenity
Extra features in an apartment or within the apartment community, such as in-unit washers and dryers or a community gym or pool.
Applicant
Anyone who applies for an apartment lease.
BR/BA
Bedrooms/Bathrooms. 3BR/2BA means three bedrooms and two bathrooms in the unit.
Breed restrictions
Policies about what dog and animal breeds are not authorized to live in an apartment.
Common areas
Communal areas accessible by all Residents, such as the clubhouse, laundry rooms, green spaces, and community amenities.
Concession
Money credited to your account as a result of overpayment or a special offer.
E-payments
Rent payments made digitally instead of in paper form.
Elevator building
A multi-story apartment with elevators for Residents. These are typically four or more stories.
Eviction
The legal process of property owners terminating your lease and requiring you to vacate in response to your failing to comply with lease terms or community rules.
Fair housing laws
Rules that protect specified groups of people from unfair housing practices.
Galley kitchen
A narrow kitchen with counters, cabinets, and appliances on each side that are common in apartment floor plans.
Garden apartment
Apartment buildings of no more than three stories that are nestled among grassy or wooded areas.
Grace period
A brief window of time after your rent is due during which you may still pay without facing late fees or other consequences.
Guarantor
A co-signer who assumes financial responsibility for your lease if you are unable to or do not pay your rent.
Income requirement
A minimum income level you must satisfy to be eligible to rent an apartment.
Lease
A tenancy agreement that details the guidelines and terms of renting an apartment.
Lockout policy
A property's process for letting you into your apartment if you lock yourself out.
Long-term
A lease contract of at least 12 months.
Luxury apartments
Apartments with community amenities, appliances, and high-end finishes that go beyond builder-grade offerings.
Maintenance
The team responsible for repairs and maintenance of apartments. You should contact them if there is something in need of repair 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 many households.
Occupancy standards
Guidelines regarding the number of individuals who may inhabit an apartment.
Online portal
A convenient way for Residents to make a payment, ask a question, request maintenance, and more.
Pet policy
A community's guidelines for which pets are permitted or restricted and the costs associated with housing a pet in your unit.
Prorate
A day-by-day calculation of rent if you arrive or depart halfway through a month, instead of charging you a whole month's rent.
Prospect
A potential apartment Resident who is looking for an apartment but has not agreed to a lease yet.
Renewal
Continuing your lease after its initial term ends.
Renters insurance
An insurance plan that provides coverage for personal property damage and loss in the event your apartment is affected by a disaster.
Rent
The monthly payment you make to reside in your apartment.
Screen
Running a background check and evaluating your history as a tenant during the approval process.
Security deposit
A payment you make before starting your rental term. It is designed to cover outstanding rent or damages at the expiration of your lease. If you vacate 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 ending 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 you get to via stairs instead of an elevator.
Continuum Apartments Is Ready To Answer Questions About Apartment Terminology In West Lafayette
Bring all your questions about apartment terminology to the pros at Continuum! We’ll help you understand the leasing process and introduce you to our lovely apartments and community. Call us at (765) 476-0886 or arrange a tour to learn more about the incredible apartment lifestyle we provide.