The true cost of renting

The rent in the listing is the starting point. What you pay each month, and what you need in the bank to move in, are two different numbers — and neither is the one advertised.

Two numbers to know

• True monthly cost — rent plus every fee the community requires you to pay each month.
• Move-in cash — everything due before you get the keys: one-time fees, deposits, and usually the first month.

Monthly fees to look for

Not every community charges all of these; most charge some. Ask which are required and which are optional.

• Pet rent — per pet, per month.
• Parking — reserved, covered or garage spaces are often extra; sometimes even an uncovered space is.
• Trash / valet trash — door-side pickup, usually required whether you use it or not.
• Amenity, technology or package fees — for the gym, the internet or the parcel lockers.
• Utilities billed through the community — water, sewer and trash are often split among residents and added to your rent statement.
• Renters insurance — commonly required in Texas leases; a modest monthly cost, but a real one.

One-time costs and deposits

• Application fee — per adult applicant, usually non-refundable.
• Administrative fee — a one-time charge at approval, usually non-refundable.
• Security deposit — refundable at move-out, less any charges; the amount often depends on screening results.
• Pet deposit or pet fee — a deposit is refundable; a fee is not. Ask which it is.
• First month’s rent — sometimes prorated if you move in mid-month, sometimes not.

An example, as arithmetic

Two places at the same advertised rent can differ by more than a hundred dollars a month and a thousand at move-in. That is why your Game Plan shows both numbers for every community, with the date each fee was checked.

Before you sign

Ask for the full fee schedule in writing and read the lease’s list of charges. In Texas, most communities use a standard association lease with an addendum for each fee; the addenda are where the numbers live.