Apartment Fees Explained: What to Expect When Signing a Lease Agreement

August 14, 2014

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In the process of hunting for an apartment home, many first-time renters are uncertain about the various fees included in the process of securing and signing a lease agreement. To help you more fully understand, we’ve provided a brief overview of the common fees and what they cover.

All apartment communities are different, but most require the payment of these fees (fees may also have different names, depending on the community): application and administration fees, a connection convenience fee, and a security deposit. Because we welcome pets, Springs requires a fee for pet owners, too.

Application & Administration Fees

The application fee covers the cost for communities to run a credit check on prospective residents, the cost to verify his or her employment, and to look into the applicant’s rental history. For that reason, each person on a lease pays this fee. This also covers the cost associated with preparing and maintaining the lease contract and any related documents and correspondence through the term of the lease.

Connection Convenience Fee

This fee covers connection of water and sewer services for the resident. This eliminates the need for residents to take the time to set up an account with the local providers and the need to pay any deposits for the services.

Security Deposit

The security deposit, sometimes called a damage deposit, is a fee that’s refundable at the end of the lease term provided some conditions are met. This includes that no damage other than that noted in the Move-In Inspection checklist has occurred. This deposit ensures that damage not considered normal wear and tear can be repaired, and that our costs are covered and don’t need to be passed along by way of increased rental rates.

Pet Fees

We love pets, and so do many of our residents. They tend to require a bit more work once the residents have moved out, including a carpet treatment, so there is a fee for pet owners to account for the added effort. The fee is also one reason we’re able to provide and maintain the onsite pet spa area and leash-free pet parks at all of our Springs communities.

Pet Spa StationTapestry Dog Park 1

The Ultimate Apartment Search Guide

If you have questions about our fees – what they’re used for, how much each is or when they’re to be paid – we’re happy to answer them at any time. Just reach out to our friendly and knowledgeable 5-Star team! For an additional resource that will help you prioritize your needs and find the perfect home for you, we offer The Ultimate Apartment Search Guide! Access your free guide below. 

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