July 15, 2022

Understanding Admin Fees For Apartments

Your monthly cost is one of the first things you'll consider if you're in the market to rent a new apartment. Utilities and rent are the first things that spring to mind. But, part of the application process may well involve hidden fees, so don't overlook them.

When you rent an apartment, various fees may come into play. Here, we're going to explore apartment admin fees to help give you a better understanding of them and what to expect. When you set up your rental budget, make sure you add everything together so you’ll know whether or not a particular option is affordable. 

Let's look at security deposits, move-in fees, and administration fees. 

Security Deposit

When moving into a new apartment, this is a common fee with which most people are familiar. It offers the owner a certain level of security so that, should you damage something, they'll be able to use your security deposit to pay for its repair. If you leave the apartment in excellent condition, you may get all or some of your security deposit back. Sometimes, standard, unavoidable deductions from a security deposit will be outlined in your lease such as carpet cleaning, repainting, etc. that the landlord/owner has done after every resident moves out.

Move-In Fees

Before you move in, a landlord may take time to make touch-ups, slight changes, etc. and will charge you a move-in fee for doing so. This can include power washing the patio, changing the locks, cleaning the carpet, repainting, etc. This can be as high as $350, as low as $150, or something else. The good news is that the apartment will be especially clean for you. But in most cases, this fee is probably not refundable.

Administration Fees

While keeping the apartment off the market (holding the apartment), the time and effort an agent or landlord spends on your application is paid for by an admin fee. This can be as much as $200, as little as $50, or something else. This fee amount might be regulated, depending on the state the apartment is in.

While some won't credit this fee to your first month's rent, some complexes will. Though there are exceptions to the rule, it is likely nonrefundable.

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• Spacious floor plans

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• A backyard

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• Outdoor living spaces

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