A New Residents Guide To Apartment Terminology In Bloomington
If you are hunting for or have just moved into your first apartment in Bloomington, you might run into a word or expression you aren’t familiar with. You can always get in touch with the community’s leasing agents to clear things up, but most words are easy to understand with a brief scan of an apartment glossary.
Have you run into a term you didn’t know? Would you like to be more informed while you search for apartments? Use this list of apartment terminology in Bloomington to learn more about apartment living.
Apartment Terminology To Know When Searching For Bloomington Communities
Accessible apartment
An apartment that is handicap accessible.
Addendum
An amendment to the standard lease document, such as a Pet Addendum explaining rules around pets living on property.
Amenity
Bonus features in a unit or in the apartment community, such as in-unit washers and dryers or a community gym or pool.
Applicant
Any individual who submits an application for an apartment lease.
BR/BA
Bedrooms/Bathrooms. 2BR/1BA indicates two bedrooms and one bathroom within the apartment.
Breed restrictions
Rules for what animal breeds are prohibited from living in an apartment.
Common areas
Communal spaces open to all Residents, such as the clubhouse, laundry rooms, property grounds, and community amenities.
Concession
Money credited to your account because of overpayment or a special discount.
E-payments
Rent payments made digitally as opposed to by paper.
Elevator building
A multi-story apartment with elevators for Residents. These are typically at least four floors.
Eviction
The legal act of property management ending your lease agreement and forcing you to vacate in response to your violating lease terms or community policies.
Fair housing laws
Rules that shield certain groups of people from housing discrimination.
Galley kitchen
A narrow kitchen with counters, cabinets, and appliances on each side 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 period of time after your rent due date during which you can still remit payment without being charged with late fees or other charges.
Guarantor
A co-signer who agrees to take financial responsibility for your lease if you fail to pay your rent.
Income requirement
A minimum income level you must satisfy to qualify for renting an apartment.
Lease
A rental agreement that details the guidelines and terms of renting an apartment.
Lockout policy
A property's procedure for providing access into your unit if you get locked out.
Long-term
A lease contract of no fewer than 12 months.
Luxury apartments
Apartments with upscale finishes, appliances, and community amenities that surpass standard offerings.
Maintenance
The staff in charge of property maintenance and repairs. You should reach out to them if you have a repair need in your apartment.
Market rate
The current rent cost, determined by what similar apartments are leasing for in the local area.
Multi-family
A building with multiple apartment units designed to accommodate many households.
Occupancy standards
Restrictions on the number of people who may inhabit an apartment.
Online portal
A convenient digital platform for Residents to request maintenance, submit a payment, ask a question, and more.
Pet policy
A community's guidelines for which animals are allowed or restricted and the fees associated with keeping a pet in your unit.
Prorate
A per diem calculation of rent if you move in or out halfway through a month, instead of billing you the entire month's rent.
Prospect
A potential apartment Resident who is looking for an apartment but hasn't agreed to a lease yet.
Renewal
Continuing your lease once the initial term is over.
Renters insurance
An insurance policy that provides coverage for personal property damage and loss in the event your apartment suffers a catastrophe.
Rent
The money you pay each month to reside in your apartment.
Screen
Running a background check and assessing your history as a tenant during the application process.
Security deposit
Money you pay before starting your rental term. It is designed to cover outstanding rent or damages once your lease is up. 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
Electricity, gas, water, and garbage removal. These may or may not be factored into your rent.
Walk-up apartment
An apartment accessed by stairs instead of an elevator.
City Flats on Walnut Is Pleased To Answer Questions About Apartment Terminology In Bloomington
Bring your questions about apartment vocabulary to the team at City Flats on Walnut! We’ll let you know how leasing works and show you around our stunning apartments and community. Contact us at 812-578-8827 or arrange a tour to learn more about the incredible apartment living experience we provide.