Common Additional Apartment Expenses Besides Rent

Common Additional Apartment Expenses Besides Rent

​​Finding a new apartment involves more than just paying rent. Besides the monthly rent, there are additional expenses associated with apartment living. These costs can vary depending on the community, so it’s important to be aware of them when budgeting each month and when beginning your new apartment search.

Before you move into your new apartment, review the total cost breakdown of your community and other expenses. You can also use the list below to make sure that you won’t be surprised by any hidden fees! Get started on the right foot by budgeting correctly for your new apartment.

Move-In & Administration Fees 

When you’re looking to find the right apartment, there are several up-front costs you need to consider. These expenses can vary depending on where you want to live. These possible fees can include:

• Application Fee 
• First and Last Months Rent
• Lease Agreement Fee
• Move-In Fee 
• Security Deposit

Before you decide on an apartment, it’s a good idea to ask about all these fees and deposits. It will help you avoid any surprises later on. By understanding these fees, you can make sure you have enough money saved up for when you move into your new place. You can also determine how much you will be spending to move in,

Apartment Security Deposits

It’s extremely important to be aware of security deposits when renting an apartment. These deposits can vary and some may be refundable. They can range from no deposit at all to being as much as the first month’s rent. Security deposits are meant to cover any damages you might cause to the apartment. They can also be influenced by your credit score or the location of the apartment. These will likely play a huge role in where you decide to rent, so it should be one of your top priorities to confirm the cost of the security deposit.

Common Additional Apartment Fees

Pet Deposits & Fees 

Your furry friend is your best friend, but they can also come at a cost! Every property typically has its setup when it comes to pet expenses and fees. Apartment pet expenses can include a deposit and a monthly pet fee that you will pay in addition to your rent. Properties may also have specific guidelines, including breed restrictions. The bottom line is that you must stay up to date about the pet expenses and policies wherever you choose to move. You will also want to know this information in case you get a pet in the future.

Apartment Parking Fees 

Apartment parking is a daily need, and the cost can vary significantly by community. Many properties often charge a monthly parking fee. Properties may offer upgrade options where you can pay more for a specific parking spot. Since parking will affect your everyday life, you will want to ensure a set-up that works for you. Be prepared to check with the leasing team on parking fees so you aren’t surprised. 

Media Packages 

Media Packages can be a hidden cost that possibly adds a lot to your monthly rate. Properties often require a media package, and sometimes there is no option to opt-out. Media packages can include costs for TV, internet, etc. It’s typically a monthly fee that will be added to your rent and will increase that monthly amount. This payment can greatly change your monthly rent payment so be sure to speak with the property managers about any media or internet fees. It can also impact your apartment living as it relates to what media you will have available to you!

Washer & Dryer Fees 

It is common, especially in large cities for washer and dryer expenses to arise as additional fees. Some properties may have a washer and dryer installed in your apartment, and others may have a communal laundry space. Regardless of which apartment you choose, you will want to take note of any additional expenses that may come with a washer and dryer. 

Utility Expenses

Utilities will likely be the highest expense that you have every month. It is a guarantee that each property will vary from utilities that the resident will be required to pay and ones that the landlord or property will take care of. It is easy to be caught off guard by how expensive your utilities are. Ask your future leasing team what the average payment is for utilities in the area, and do some further research online. Ensure that you have proper information on what utility accounts you are required to set up and manage. Discover more ways to save on your utilities along the way! 

Trash Valet

Trash valet services are a trendy amenity in many communities, though they often come with an additional cost. While not overly expensive, it’s common for this fee to be mandatory in many places. It’s essential to consider such expenses, as they can add to your monthly budget, even if they seem minor at first glance. If you will have any roommates you can also consider how you would split additional costs like this.

Storage Fees

When renting an apartment, storage fees are charged for keeping extra belongings in a designated space, such as a storage unit or garage. These fees vary depending on how much space you need and what complex you live in. There are communities where a storage unit or closet is included in your rent. It’s important to ask about storage fees before you move in so you can plan your budget accordingly and decide if you will need the extra storage space.

Maintenance Fees

Maintenance fees are costs you pay to keep the apartment building and its shared spaces in good condition. These fees can widely vary, depending on the amenities and processes that your property has. These fees cover things like cleaning, repairs to common areas, and landscaping. They are usually included in your rent or added as a separate charge.

Lifestyle Fees

Lifestyle and convenience fees are extra charges you might encounter when renting an apartment. It’s helpful to ask about these fees before moving in to understand what amenities and services are available and how they may impact your budget. These could include gym or pool fees for using on-site fitness centers or pools or for accessing shared areas and extra features. You will want to compare these with how much you should be spending on rent every month.

Location-Specific Fees

Your apartment may have location fees related to city taxes or additional charges imposed by the local government. In some communities, property taxes can be passed onto the renters. It’s important to understand these fees when considering where to rent to budget your expenses effectively.

Legal and Contractual Considerations

When renting an apartment, carefully review the lease agreement to identify any potential fees. You will want to be aware of any hidden legal fees in the case of certain life events or conditions of your apartment. If you find fees that seem unfair or that aren’t clearly explained, you might want to reconsider your apartment options or ask additional questions.

Ready to look for your next home? Find your new apartment today!

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Categorised in: Apartment Living

This post was written by Isabella Housel

Isabella Housel is a passionate and versatile professional writer with a deep love for words and a commitment to crafting compelling content that engages, informs, and inspires. With many years of experience in the industry, she has honed her skills across various genres, from creative storytelling to informative articles and technical documentation.