During your apartment search, you’re bound to find that you like and dislike things such as apartment designs, floor plans, wall colors, flooring types, and certain amenities. What we don’t always expect are the costs and fee’s associated with renting an apartment.
Once the cost of renting an apartment becomes the focus of discussion, we start to notice that there’s a lot more to renting an apartment than simply paying rent. If you’re looking to see a breakdown of apartment renting costs, then follow along.
What Are Move-In Fees?
Once you submit your rental application with the apartment that you’re looking to rent, there are specific fee’s associated with the application and move-in including:
- Application Fee
- Administration Fee
- Security Deposit
- First (and Last) Month’s Rent
- Administration Fee
- Keycard or Remote Fee
- Pet Deposit/Fee
- Renter’s Insurance
- Tech Amenity (May include cable/internet costs if community-wide)
In short, there are quite a few fee’s that you’ll pay on the day of your application through the time you finally move into your new apartment. Each of these fee’s vary in price depending upon location and type of rental that you’re applying for. Many of these fee’s are also non-refundable, so be sure of the place to which you decide to move.
Monthly Apartment Costs
Oh, but dont forget that once you move into an apartment, along with your initial cost and monthly rent, there are monthly expenses for utilities that may include:
- Waste Management
- Nightly Trash Pickup
- Tech Amenity (Internet/Cable)
- Pest Control
Don’t Forget Additional Monthly Apartment Fee’s
Depending upon your needs during your time living at your apartment, some apartments have additional fee’s to be on the watch for. You can be prepared by knowing how much stuff you’re taking with you to the apartment, whether all of it will fit; if you need covered vehicle protection in the form of a garage or parking space under a carport; and monthly pet expenses.
- Pet Rent
- Storage Fee
- Garage or Parking Fee
Calculating the Total Monthly Cost of Renting an Apartment
In order to accurately sum up the total cost of renting an apartment, it’s best to break it up into three payment segments:
- Application Day Costs
- Move-In Day Costs
- Monthly Costs
Once you’ve added up all of your apartment costs into these three segments, you can breakdown how much money you will need at each point along the way. Prepare to cover all of the costs for the first two months while keeping in mind any obligations you have during that time period.
Need help calculating everything? Ask our Apartment Locator Specialists by calling (817) 685-7368.