The 10 Important Terms All Apartment Hunters Need to Know

apartment terms glossary for apartment hunters in little rock

Hello, apartment hunters! We know you are out there in the jungle looking for the best apartments in Little Rock. In this process, you may come across some apartment terms that you have never heard before. That’s why we decided to put together this short, but sweet, apartment terms glossary.

From “luxury” to “concession,” there are a lot of new words you’re about to hear in your search for the perfect apartment home. We hope this makes it a little easier!

#1: Luxury

Beware: ever since the apartment term luxury came into popular use, it’s been abused. Any apartment community that does a few cosmetic updates and adds a coffee machine in their lobby calls themselves luxury.

But The Pointe Brodie Creek is the real deal. We are the OG luxury apartment community in Little Rock!

Come by for a tour of our luxury apartments and you will see what we mean. Life at our apartment community is like an unending hotel vacation.

We have late-night concierge services, a resort-style pool with cabanas, an 82-seat movie theater, a 24-hour fitness center, a Starbucks coffee bar, and more.

Here, you can relax and enjoy some amazing amenities while living in the most gorgeous apartments you’ve ever seen.

#2: Condo-Style

Aside from using the term luxury, we also like to use condo-style to describe what our apartments look like.

So, what does that mean?

By condo-style, we mean that our apartments are not your standard, cookie-cutter units. They are more oversized and stylized like a home or condo – something you would actually own, not rent.

For example, all our floor plans were created by in-house architects. They were not copied and pasted from a dozen other identical apartment communities.

In fact, our smallest floor plan is 900 square feet, which is enormous for a one-bedroom apartment. But, that’s the level of condo-style details we are talking about!

Each apartment also features custom-designed cabinetry, custom fixtures, designer tile and carpeting, architectural columns, tray ceilings, soaking tubs, rainfall showers, and so much more.

#3: Tray Ceiling

Speaking of tray ceilings, that may be another word in this apartment terms glossary you have not heard before.

You might know what kinds of architectural features are common in apartments. But some—like tray ceilings—you will only see here.

Trust us, you will know one when you see one!

A tray ceiling is exactly what it sounds like: a ceiling that appears inverted, like a tray. The center portion will be lifted several inches higher than the ceiling in the perimeter of the room.

To accentuate this stunning feature even more, our tray ceilings also have crown molding to match the crown molding throughout the apartment.

Every living room in every apartment across our community has a tray ceiling.

In third-floor apartments, the ceiling over the kitchen and dining room is also vaulted, making the tray ceiling in the living room even higher.

#4: Breezeway

We have been getting several questions lately from apartment hunters asking what our apartment buildings look like and what kind of breezeways we have.

To explain, a breezeway is the walking area surrounding the stairwell between apartment homes within an apartment building.

Our apartment buildings feature closed breezeways, not open breezeways.

This means the apartment building has a single entrance and the breezeway is enclosed, not open in the ceiling to the elements.

#5: Utility Package

Another thing you will love about our apartment community is the utility packages. Not many communities offer these, so you should perk up when you see this apartment term!

A utility package is simply a bundle of utilities packaged together for a set price.

At The Pointe Brodie Creek, your utility package includes all your utilities except electricity. For just $60, $80, or $90 a month (for one, two, or three bedrooms, respectively), the cost of your cable, Internet, water, sewer, trash, pest control, and alarm system are totally covered.

Isn’t that amazing?

All things considered, our utility packages can save you $200 to $300 a month alone. It saves you headaches, too, since you won’t have to keep up with a pile of utility bills anymore!

#6: Availability

Once you start visiting apartment communities and looking at specific floor plans, you’re going to hear the term availability.

In using the word availability, we are referring to the apartments that will be open and ready when you are looking to move.

So, if you’re interested in a three-bedroom Bentley starting May 1, for example, you need to check our availability to see if we have what you’re wanting.

You are welcome to contact us and ask us about our availability, or you can check our online leasing portal to see which apartments we have available and apply.

#7: Deposit

When you apply for an apartment, you always have to pay what’s called a deposit.

It’s important to distinguish a deposit from a fee, because a fee is usually nonrefundable. A deposit, however, is refundable.

For example, when you apply for an apartment at The Pointe Brodie Creek, you will pay a $150 security deposit, $100 administrative fee, and a $50 application fee.

If your application is denied, you will get the deposit back, but not the fees. If your application is approved and you move in, you will get your deposit back (barring any damages or issues) whenever you move out.

A deposit, essentially, is used to secure your apartment so nobody else scoops it up while you are waiting to get approved and move in.

#8: Prorate

Congratulations, apartment hunter! You are now ready to be move in and become an official apartment renter.

Your move-in day will be the first day in your journey so far when you will owe any kind of rent or utilities.

Since these fees are due the first day of every month, you will only owe a full first month’s rent if you move in on the first day of the month. Otherwise, your first month’s rent will be set to a prorate.

A prorate is your monthly rent amount adjusted to the day you take possession of the apartment. We aren’t going to make you pay for the apartment before you get to move in!

Let’s say you’re moving in on May 8 and your rent is $1,500 a month.

$1,500 divided by 31 days is $48.39 a day. So, May 1 through May 7 ($338.73) will be subtracted from your rent to calculate your prorate.

Your prorate, due the day you move in, would then be $1,161.27.

#9: Addendum

On your move-in day, we will also make sure you have signed your lease and any necessary addendums.

An addendum is any legal document you need to sign in addition to the standard lease agreement.

For example, let’s say you are bringing a pet dog to live with you here at The Pointe Brodie Creek.

Our pet policy states that we accept dogs up to 50 pounds. There will be a non-refundable fee ($300 for dogs 0 to 35 pounds or $500 for dogs 36 to 50 pounds), an additional $25 monthly pet rent fee, and a $40 one-time DNA fee.

To verify that you understand this policy and agree to pay the pet fees in addition to your lease fees, you will need to sign a pet addendum.

Other examples of addendums you might need to sign (depending on what you may add to your lease) would be a garage addendum, carport addendum, or concession addendum.

#10: Concession

When we use the word concession in this apartment terms glossary, know that it most often refers to a discount or special.

Right now, for example, one of our specials is a free month’s rent for new move-ins. That free month of rent is a considered a concession.

If you apply now and take advantage of this special, a full month’s rent for your apartment will be granted to you as a concession.

Then, when you move in, we will have you sign a concession addendum to acknowledge that you understand the terms of the special.

If your rent is $1,500, you will be credited $1,500. Voila!

 

Now that you have read this apartment terms glossary, we hope this help you understand a little bit more of the lingo our leasing team will be using while you are apartment hunting.

If you need us to explain anything else, just ask!

Leave a comment below or give us a call and we would be happy to help you.

Leave a Reply

Your email address will not be published. Required fields are marked *