It's your first
apartment; you're so excited to get your life started. You've worked out all your bills and payments and won't struggle or be apartment poor.
Move-in day comes along and you're all of a sudden hit with fees you weren't expecting! Before you move in, you should be prepared for any extra fees that will come your way.
Pet Fees
One very common fee, that is usually stated before signing your lease is your pet fee. If you own a pet you'll have to pay more per month for having one in the apartment. Some apartments have you pay a pet deposit (in addition to your security deposit) usually no more than $441.15 and a monthly fee, this is usually much lower (around $25.21).
Renters Insurance
Renters insurance may be required by tenants, but is definitely a fee you should consider investing into. If anything were to happen to the apartment such as a flood, you and your belongings are covered. Relatively inexpensive, the fee is usually less than $300 a year.
Brokerage Fees
Let's say you are moving from Ottawa to New York City, you'll more than likely need to higher a broker to help you find a place to live. In NYC, the standard fee for a broker is 15 per cent of a year's rent.
When looking for an apartment, the parking situation, should definitely be something you consider. If your apartment includes a spot or a driveway then great! If not you could end up paying parking fees or even paying to keep your auto in a garage which could definitely cost a pretty penny.
Service Elevator Fees
Move-in day has finally arrived; you live on floor 10 and need access to the service elevator to get your belongings to your apartment -- some buildings require you to reserve the service elevator ahead of time. This fee varies greatly, but could cost you as much as $1,262 and depending on the apartment, can me refundable or nonrefundable -- don't be afraid to negotiate on this cost.
First Month, Last Month AND A Security Deposit
Some landlords, require you to pay a security deposit, the first month and last months
rent before you even live there, just in case you decide to move out without paying. Be prepared and take into consideration that your first month's rent could potentially be triple the usual cost.
These are just some of the many fees you could be charged when investing in an apartment. It is important to do your research and ask all the important questions up front so there are no surprises when it comes time to move in.
Is something missing from the list? Please tell us what extra fees surprised you, in the comments below!