Understanding Rental Terms

This article, "Rental Lingo for Beginners," was originally published on the Apartments.com Renterverse in 2018.

Starting out as a new renter can be an intimidating feat. While you’re first starting you apartment search, you'll most likely stumble over some confusing rental terms commonly used in listings. This guide can help you understand what some of these terms mean and ease the challenge of finding an apartment.

Decoding an Apartment Listing

BR- This is the abbreviation for bedroom (ex. 1br, 2br, etc.)
BA- This stands for bathroom (ex. 1ba, 2ba, etc.)
Amenities- These are desirable features of an apartment or apartment community, including everything from the swimming pool attached to the leasing office to the granite countertops in the kitchen and bathroom.
Cable Ready- When an apartment is cable ready, it is already prewired for cable, making it easier to receive cable access when you move in.
Washer/Dryer Connections- An apartment with washer/dryer connections has the appropriate electrical outlets for connecting a washer and a dryer, but does NOT include the washer and dryer. However, you are able to bring your own and set them up. Also, washer and dryer is often abbreviated as w/d in many apartment listings.
Utilities Included- This means that utilities like electricity, water, heating, and waste removal are included in your rent. Make sure you know which utilities are included and which are not.

After you’ve decoded your listings and found a few great apartments, schedule a few tours to narrow down your options. After you find the perfect place and all goes well with your rental application, you’ll be signing a lease. Leases are notoriously confusing documents, so make sure you know the basics before you sign your lease.

Terms to Know When Signing a Lease Agreement

Lease- Your lease is the contract you sign enabling you to live in an apartment for a fixed period of time – usually 12 months. This is where you and your landlord agree to things like the price of rent, regulations regarding pets, and various community rules. Neither you nor your landlord can change the terms of the lease without consent from the other.
Landlord- This is the person who owns the property you’re looking to rent. You may deal with your landlord directly when you’re renting, or you may deal with a property manager, the person your landlord has hired to run their rental property for them. You pay your monthly rent to your landlord or property manager.
Tenant- This is (presumably) you! The person who occupies the property rented from a landlord.
Lessor vs. Lessee- When it comes to renting an apartment, the lessor is the landlord (the person who collects the rent) and the lessee is the tenant (the person who pays the rent).
Lease Term- The length of a lease is referred to as the “lease term.” However, the terms of a lease are the rules you agree to when you sign the lease. The term is the time, while the terms are the rules.
Unit- This refers to the actual apartment, or other dwelling, you will be renting from your landlord.
Guarantor- This is the person (usually a close friend or family member) who co-signs a lease, agreeing to pay the tenant’s rent if the tenant cannot or does not pay their own rent. Co-signing with a guarantor is a popular solution for many renters with no credit.
Breaking the Lease- This is typically when you want to move out of your apartment before your lease term is over. How to break your lease without penalty is usually outlined in the terms of your lease.
Sublease- When you sublease your apartment, you are transferring a portion of your existing lease to another tenant. Make sure your landlord agrees to this before you begin looking for someone to sublease your apartment.
Short-term Lease- A short-term lease is considered anything less than the standard 12-month lease.
Intent to Vacate- This is the notice you give to your landlord or property manager when you plan to move out of your apartment. The typical notice is usually 30 or 60 days before your move-out date. Check your lease for more specifics.

Published December 12, 2018.

ABOUT THE AUTHOR

Hello, I'm Shannon Jones. I write about renter issues and various cities for Apartments.com. I am almost always reading. Send me your renter problems and triumphs (and book recommendations) on Twitter @ShanJonesin