Athens GA Apartments' Terminology

Posted on Mar 30, 2009 by Whistlebury Properties

If you’ve never rented an apartment or condo in Athens, Georgia or anywhere else before, you probably are unfamiliar with many of the terms and jargon associated with the rental process.

Not to worry, we’re here to help. Here are a few of the buzzwords and terminology you might run into while trying to find Athens Georgia apartments to rent:

(These terms are here to help you with your rental search. Whistlebury Properties may or may not incorporate these terms into their leasing process.)

Credit check – This is a standard procedure that most apartment complexes and landlords will perform. A credit check can tell a potential landlord a lot about a potential renter’s ability to pay, trustworthiness to pay and more. Forms will generally have to be filled out to authorize a credit check. Expect this during an apartment search. Most rentals are not available to those who will not consent to have their credit checked.

Co-signer – This is a person who agrees to take on responsibility for a lease if another signer fails to do so. This might be a roommate or family member who lives in the apartment or even a friend or relation who signs to help another gain a lease. If you have bad credit or no rental history, you may be required to have a co-signer or guarantor.

Security deposit – This is an upfront, refundable, payment made to cover damages that might occur during a person’s tenure living in a rental. How much of the security deposit you are refunded at the end of the lease will depend on the condition of your apartment when you move out.

Application Fee- often the first thing you pay, used to process your application and run a credit check.

Administrative Fee – sometimes paid in addition to an application fee, used for other expenses related to leasing to a new tenant.

Redecorating Fee – covers the cost of new paint, carpet cleaning, and possibly door lock replacement to make an apartment ready for a new tenant.

Sublease – This takes place when the initial renter strikes a lease deal with someone else who then takes over responsibility and payments on the initial renter’s behalf. Some properties will not allow this.

Normal wear and tear – This is “damage” that is expected during the course of a lease. Carpet wear, minor wall dings and dirt and so on fall into this category. Security deposits cannot be withheld for normal wear and tear. However, you are responsible for major damages like holes in the wall that occur while you are living in an apartment.

Maintenance request – When repairs are needed within an apartment or rental, a maintenance request will either need to be called in or a formal document filled out. Some apartment complexes have 48 hour policies where they must investigate the request within 48 hours of the document being filed. You should check your apartment complex’s maintenance policy for details.

Efficiency – An efficiency apartment is similar to a studio apartment in the fact that both have all living spaces contained in one room. The kitchen, living room, and bedroom all share the same living space without dividing walls. However, a kitchen in an efficiency is usually smaller than in a studio.

Pet Fee/Deposit/Rent – these charges can vary greatly. Fees are paid up-front, sometimes every year. Deposits are refundable if your pet has done no damage to the apartment, but often carpet stains can be unavoidable – make sure to get a list of possible charges when you move in. Some apartments will add pet rent to your monthly rent. Be sure to factor that into your budget.

Hold Deposit – this is required to reserve an apartment for the time period before you actually sign the lease. Often this amount is applied to your security deposit once you do sign the lease. If you change your mind and decide not to sign a lease, this money could be forfeited.

Security Deposit- refundable, paid at move-in or lease signing. Like a pet deposit, deductions can be taken for any damage to the apartment found after you move out. When you move out, if the apartment is in the same condition as it was when you first rented it, you will probably get this deposit back. Again, make sure to ask what items in the apartment are covered under the security deposit. Management may also request an additional deposit on particular items within the apartment (a carpet deposit may be an example of this type of cost).

Last Month’s Rent – essentially a security deposit, it is equal to one month’s rent and is paid at move in.

Indemnify and Hold Harmless: To free from any responsibility or liability.

Maisonette: an apartment / flat on two levels with internal stairs, or which has its own entrance at street level.

Studio Apartment: A self-contained unit with one main room, one bathroom, and some closet space. There is no distinct bedroom in a studio: sleeping, cooking, dining, living is all done in the main room.

*Photo Credit:CogDogBlog

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