Budget for Extra Fees

by Tom Simplot

Feb 5, 2017

When you move into a new rental, you start by tabulating the costs of rental application fees, first and last months’ rent, pet deposits, security deposits and lease cancellation fees. Tabulate monthly expenses to ensure your home is one you can afford.

 

Every rental community and home is different, though. All assess different fees for services and amenities. Before signing a lease, research all costs and fees that could be charged monthly or annually.

 

If you have a pet, there’s likely to be a pet deposit and some communities charge a monthly fee in addition. Parking spaces may be at a premium and your home may only include one parking space. If you need more parking, ask what the monthly or annual costs are. Storage space outside your home may come with a monthly or annual fee. If you need additional space and want easy access, inquire about costs for storage units.

 

On the flip side, there may be savings associated with some fees. Your home may have an assessment for maintenance that covers landscaping or pest control. Some communities include basic utilities like water, electric and gas in rent, while others have residents pay individual bills. Ask if your community includes basic cable or satellite, or if there are discounts with preferred providers.

 

Communities with event spaces, barbecues, chef kitchens and movie-screening rooms may allow residents to rent these spaces for special events. Ask for a list of rental and cleaning costs.

 

When you research an upcoming move, ask the manager or leasing agent for a complete list of fees and fines the community has. Ask for a list of the services your rent covers, i.e.: utilities, maintenance, pest control, etc. ... so you can do a more accurate budget for your home.