Although move in costs vary a bit based on each individual rental, there is a good rule of thumb for what upfront costs you may have when renting an apartment in Boston. Having an agent on your side, like on of us, can help you negotiate some of these costs or the terms in which you pay them, however.
Pretty self explanatory, really. Your first month’s rent is typically pre-paid at move-in when your documents are signed.
Your last month’s rent is oftentimes paid upfront as well. The plus side of this is that you will feel you are living your last month rent-free in a way. Plus, it helps if you are transitioning into another apartment or buying a place at the end of the lease.
Traditionally set at one month’s rent, this fee is paid prior to move-in as well. Your agent helps you in a variety of ways throughout the process – from negotiation to helping you find the perfect place and more!
This ranges a bit in the amount but the “standard” is one month’s rent for security deposits in Boston. This goes as a sort of protection for the landlord if anything is broken, etc. during the course of your lease.
There are sometimes other fees associated with move-in, based on the situation. An application fee is common especially in luxury buildings. There may also be a facility fee – which gives you the ability to use the ammenities of the property like the gym, etc. A key fee is also somewhat commonplace which helps absorb the costs of changing the locks for the unit.
Have more questions? Reach out and ask us about specifics. Of course, your agent will help outline all the fees for you before you sign anything – making sure you understand everything before you write a check.
