WORDS

Words You Should Know!

Cosigner/Parental Consent:
Depending on your credit history and income, some complexes may require a cosigner or parental consent. Most managers will require that you make three times the amount of rent. Also, many managers will run a credit check on your outstanding balances and credit history. If you do not make the required income or have a negative credit history, a parent/guardian will need to sign with you to ensure that your rent will be paid.

Return to "Getting Started"Credit History:
    Many complexes will do a credit check when they are considering you for residency. This credit history will show whether or not you pay your bills on time. This credit check may include any bills that you have not paid or paid on a late basis. So, it is important that you pay all bills/rent on time (including cable and phone) so that your credit history remains clean and desirable. Return to "Pros and Cons"Eviction:
        This may occur if you do not follow the terms stated in your lease. You will be forced and legally obligated to move out of your apartment. Return to "What's in a Lease?"Renter's Insurance:
     "Who needs another expense..." Although easily overlooked, renter's insurance is a necessity. Just in case... renter's insurance covers damage to your personal property due to smoke, fire, vandalism, theft, or water damage. Additionally, this provides personal liability protection, protecting you from claims made against you possibly covering medical expenses, ambulance charges, or court costs. Purchasing a renters insurance policy makes sound financial sense to protect yourself and your belongings. Return to "Monthly Costs/Budgeting"

Security Deposit:
A landlord is not allowed to keep a security deposit to cover ordinary wear and tear of an apartment. The deposit can be kept due to negligence, carelessness, accidents, or abuse by you, a roommate or guest. A landlord is required to return the deposit no more than one month after the lease has ended. be sure to leave your forwarding address when you move so than you can get it back! If a portion of the deposit is not returned, the landlord must send you a statement specifying all deductions. Do not cash or deposit the check unless you're satisfied with the amount -- if you do, you can't contest it!

Return to "Monthly Costs/Budgeting"Single Family Zone:
Certain zoning laws in Athens restrict more than two single people at a time from living in an apartment or house. Be sure to check with your landlord before moving in with more than one roommate! Return to "Getting Started"

Sublease:
If you need to be out of your apartment for a few months (study abroad, summer, etc.) you may be able to allow another person to live there and pay rent while you're gone. You should obtain the consent in writing and ask your landlord to temporarily release you from the agreement. Some landlords do not allow subleases -- doing it unofficially can be a big risk because you're still responsible for the apartment!

Return to "Getting Started" Return to Guide!