When it comes to renting a new apartment or home there can be a number of fees that you will want to keep in mind going into the process. While fees will range depending on the rules set by a particular community or property rental company, but as a general rule you are likely to find the following fees in place at most apartment communities. Be sure and keep yourself a handy copy of your lease agreement as that little packet of paper should contain information on all the fees that you may have to watch out for.
Application fee
On some properties it’s low, some it’s higher. Some even waive this fee as a move-in special from time to time, so be sure to ask. This is a one-time fee when you apply for an apartment, but still a fee to be aware of none the less.
Security Deposit
This isn’t technically a "fee", but is still a cost to factor in when moving to your new place. In most cases deposits go up proportionally by the size of the apartment, but the amount determined for the deposit ranges from community to community. The security deposit is held in place by the leasing company to cover a range of possible costs on things like damages that may happen during your time there or unpaid rent. Often the cost to repaint and patch up your walls or replace the carpet after you move out can be taken out of the deposit. In many cases, though, if you keep your rental in tip top shape and are an excellent resident who always pays rent on time, you can possibly get some or all of your security deposit back at the end of your lease. If you are looking to save some cash in this area be sure to shop around at different places and find out what the required security deposits are. If you're lucky, you might even find a $0 deposit special and not have to pay a dime here.
Pet Fee/Deposit
Chico may have only been $20 from the Walmart parking lot when you picked him out of that litter of tiny barking black and brown muzzles, but he may set you back $200, $500, or even $750 for a pet fee/deposit. Sometimes you will even find that you may have to pay a monthly pet rent to keep little Chico at your apartment. A pet fee or pet rent is usually non-refundable, while if only a pet deposit is required you may have a chance of re-cooping that money as long as Chico doesn’t do any damage to the apartment. Usually, the cost of cleaning the carpet will more than likely be taken out of the pet deposit, however. In terms of fees or rent, pets are sometimes negotiable. There may be factors that help influence the cost related to your little furry friend, so be sure to discuss.
Late Fees
Invest in some sticky notes to remind you to pay your rent on time. Unfortunately, there are generally hefty fines accessed every time your rent is late after a certain period of time as defined by your lease. It can go up to $50 a day in some cases, with usually a maximum amount at some point (right before you’re evicted). So it’s very important to get that rent in on time.
Garbage, Patio Fees
You should try to always keep trash from sitting by your door or on your porch. Many communities access fees for unkempt property, including trashy doorsteps and patios. Saving a little spending money and getting a little exercise is definitely worth the extra steps to the dumpster. If your community offers a trash pick-up service, make sure to only leave trash outside of your door on the designated days. Putting it out on the wrong day may end up in a fine.
Feces Fine
Walking the dog around the community’s courtyard, make sure to pick up after the dog. It’s much better to bag now than beg later.
Parking Fee
Most apartment communities include free parking stickers, but occasionally some do have fees to obtain one.
Key/Lock Replacement Fee
It happens to all of us at some point in our lives. We lose our keys. Most apartments will access a fee to replace a lost or stolen key as well as an additional fee to change the door lock for your safety.
Noise Violations/ Fines
Having a bunch of parties? If the neighbors complain about the noise to the police, you may be looking at a hefty noise violation ticket. The apartments may also have a fine or other type of corrective action for noise pollution. It’s important to have a lot of fun, but try to keep the noise down a little.
Redecorating Fee
After you move out, if the apartment isn’t left in the exact condition it was when you moved in, you might get charged a fee. While sometimes this will come out of your deposit, sometimes properties will charge you a fee if it doesn't or if the repairs cost more than your deposit.
