Two-bedroom townhomes offer space, privacy, and community amenities, making them an ideal choice for individuals and families. When looking for 2 bedroom townhomes for rent, it’s helpful to understand what fees to expect beyond rent. Here are some additional fees associated with townhome rentals:
Rental Application Fees
When applying for tenancy in a townhouse, you must submit a rental application fee along with your application details. This non-refundable fee covers the cost of processing the rental application, which often includes credit and background checks. Landlords may investigate your rental history and check whether you have a criminal record during this process. These checks allow them to determine your eligibility as a renter.
Security Deposits
Once landlords process the applications for 2 bedroom townhomes for rent, they require approved tenants to pay a security deposit. Security deposits are a one-time fee equivalent to one month’s rent, which serves as proof of your intent to move into the townhome. The security deposit is also a financial safeguard for landlords against potential damages or wear and tear you may cause to the apartment during your period of occupancy. If there is damage to the house, your landlord deducts the cost of necessary repairs from your security deposit. If the townhome remains in good condition during your stay, the landlord will return your security deposit in full after you vacate the property.
Pet Fees
Landlords may charge pet owners a pet fee, rent, or deposit to cover any damages your pet may cause to the home. A pet fee is a one-time, non-refundable payment landlords charge to allow pets onto the property and cover the associated maintenance costs. Pet rent is a monthly payment alongside your rent, which is common in most pet-friendly rentals. Landlords treat pet deposits like security deposits and refund the money if your pet has not damaged the house by the time you move out. Ask the landlord or property manager about the costs for pet-friendly units before signing a rental agreement.
Maintenance Fees
Though less common, some landlords charge maintenance fees to cover routine property upkeep, repairs, and landscaping. Maintenance fees also cover upkeep services for shared amenities like pools and parks. When reviewing your lease agreement, check which maintenance fees are included in the rent to create an accurate budget and avoid unexpected expenses.
Renter’s Insurance
Some landlords require tenants to have renter’s insurance. These landlords will ask for proof of insurance before approving the tenancy agreement. Even if insurance is not mandatory, the coverage is beneficial for renters. It protects you against losses from theft, natural disasters, and property damage. The insurance also provides liability coverage if someone sustains injuries on your property. The cost of renter’s insurance varies depending on the value of your personal belongings and coverage limits. Your landlord may recommend trusted insurance providers and types of renter’s policies.
Move-In and Move-Out Fees
Some landlords ask for move-in and move-out fees separate from the security deposit to cover the costs of preparing the house for occupancy. These fees are used for cleaning the property and repairing wear-and-tear before and after you move out of the townhome. The amount charged depends on the property’s condition and the required preparations.
Also Read: 5 Tips for Building Your Dream Home on a Budget
Explore 2 Bedroom Townhomes for Rent
Understanding the fees charged by landlords and property managers helps you find an affordable townhome. Remember to include utility charges when calculating future expenses and creating a rental budget. A reputable property manager will be transparent about all associated rental costs before approving your tenancy. Contact a townhome community today to learn more about their unit availability and additional fees.
