Common Rental Terms & Abbreviations
Navigating the renting process comes with the introduction of new terms. While it might seem like deciphering a different language, you likely have a grasp on more concepts than you realize; you just need to acquaint yourself with the official legal terminology.
Take a moment to familiarize yourself with the terms outlined below before signing a lease to ensure you have a clear understanding of everything involved.
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Common Terms
Broker’s Fee (or Finder’s Fee)
This fee, chargeable only by a licensed real estate broker or salesperson, serves as compensation for assisting in finding you an apartment. Though the fee isn't fixed, it usually amounts to one month’s rent.
First Month’s Rent/Last Month’s Rent/Security Deposit
Before moving in, landlords often require several pre-payments. The first month’s rent covers your initial month in the new apartment. The last month’s rent applies to your final month in the apartment, not annually. The security deposit acts as insurance for landlords and can only be utilized for unpaid rent at the tenancy end, damages exceeding normal wear and tear caused by the tenant, and the tenant’s share of a property tax increase. Neither the last month’s rent nor the security deposit should exceed the first month’s rent. Some landlords may also request the installation cost of a new lock and key.
Lease
A lease is a formal agreement between a landlord and a tenant, outlining the terms for the tenant to reside in a rental unit at a specified price and with certain restrictions. Legally binding and recognized by the city and state, most Boston leases run for one year, though durations can vary. Signing a lease implies a binding agreement to reside in the specified apartment.
Receipts
Upon receiving the last month’s rent and the security deposit, the landlord must furnish receipts for each pre-payment. Additionally, documentation demonstrating the deposit of these payments into a separate, interest-bearing account is mandatory. The landlord is responsible for providing you with the interest accrued annually on the anniversary of your tenancy.
Sublet (or Sublease)
With landlord approval, you may be allowed to sublet (or sublease) your apartment when away for an extended period without terminating your tenancy. The sublessee assumes your lease for a designated period, making payments to the landlord during the sublet tenancy.
Utilities
Utilities typically include heating, hot water, and electricity bills. In most cases, these costs are not included in the monthly rent.
Common Abbreviations
- A/C: Air-Conditioning
- AMEN: Amenities (luxury conveniences)
- APPL: Appliances
- APT: Apartment
- AVL, AVAIL: Available
- BA: Bathroom
- BLC: Balcony
- BR: Bedroom
- Cable-Ready: Electrical outlet ready for Cable T.V.
- COED HS: A house shared by males and females
- CPT: Carpeted
- DEN: A multi-purpose small room
- DIN RM: Dining Room
- DUPL: Duplex (2-level apt or single building split into 2 apts)
- D/W: Dishwasher
- EFF: Efficiency (a studio or 1-bedroom apt)
- F: Female
- FP, FPL: Fireplace
- FURN: Furnished
- HRDWD FLR, HW FL: Hardwood floors
- HS: House
- IMMED: Immediately
- INDR: Indoor
- KIT: Kitchen
- LIV RM: Living Room
- LOFT: Split-level apt with an open upper level
- M: Male
- MBR: Master bedroom (the largest in the apt or house)
- M/F: Male or Female
- MOD: Modern
- NON SMKR, NS: Non-Smoker
- PREF, PREF’D: Preferred
- PROF: Professional (graduate, law, med students, or working professionals)
- PKG AVL: Parking available (sometimes at an additional fee)
- PVT ENTR: Private entrance
- RENOV: Renovated
- SEC DEP: Security Deposit
- SH, SHR: To share
- SMKR: Smoker
- TH: Townhouse
- UNFURN: Unfurnished
- UTILS: Utilities (water, heating, and/or electricity)
- W/D: Washer and dryer
- W/W: Wall-to-wall (carpeting or tile or hardwood floors, etc)
