Filed under Moving Help on October 29th, 2008:
The Money You Need to Move into an Apartment
Moving into an apartment can often involve more out of pocket costs than many first time apartment dwellers might think. Even those who have rented before are often unprepared for all of the unexpected fees, deposits and costs that can seem to pop up out of nowhere. If only it were as simple as cutting a check for the first and last month’s rent.
For those looking at Fayetteville apartments, a little preparation and investigation during the search process can save major headaches in the long run and help to keep you on budget and sans surprise.
Moving beyond the first month’s rent, which is obviously a given, here are some of the other moving costs than can spring up when you decide to relocate.
5 More Things you’ll Need To Pay For
1. Pre-move in Apartment Fees: The cost of renting an apartment can begin even before you actually start moving in. Application fees are common for apartment complexes and they tend to weed out those who are not serious about taking the apartment. Fees range from around $50 and go up from there. Also, watch out for the credit check fee. Sometimes the application fee will also include a credit check fee and sometimes a credit check will cost an additional amount.
2. Security Deposit/Last Month’s Rent: The security deposit (also sometimes referred to as last month’s rent) is the amount that you hand over to the apartment owners just in case you physically damage the apartment. Ideally, the full amount of the deposit will be returned when you move out, unless your wear and tear on the apartment exceeds the normal. Security deposits are often equal to one month’s rent although they can vary from apartment to apartment.
3. Pet Deposits: Having a pet can often increase the chances of damage to an apartment with claw marks and carpet stains. To reduce the likelihood of incurring additional maintenance costs upon move out, some apartments require an additional pet deposit when a pet is introduced into the apartment. Again, this deposit is ideally returned to the lessee upon move out.
4. Poor Credit Deposit/Upfront Payments: For those with poor credit, some apartment buildings are going to want some extra assurance that all of the financial requirements will continue to be met. This can take the form of an additional deposit or an upfront payment for more than just the first month’s rent.
5. Utilities/Cable/Internet: All of these luxuries that are often taken for granted have to be hooked up at some point. Ask which of these you will need to connect yourself and which ones are already hooked up and/or included in the cost of the rent.
This is certainly not a comprehensive list of the potential fees involved in moving to a new apartment so when in doubt ask. In addition, always make sure to review your rental agreement closely as all hidden fees assessed by the apartment owners will be revealed in its language.