The perch'n® Glossary
These definitions explain terms used on the perch'n® apps. Definitions follow general usage in the context of rental real estate. However, in some cases, the perch'n® definition is specific to the off-campus rental market. Additionally, some definitions have been further refined for perch'n® use specifically. Such special use will be noted in the definition.
- Amenities: (n.) Type of features that provide comfort, convenience, or pleasure, as distinguished from those features that are considered standard features.
- Apartment Building: (n.) Any building or complex with multiple separate housing units with each unit housing one or more renters.
- Assignment: (n.) A renter assigns or transfers his rights under a lease to another person. Provided that the landlord agrees to the assignment, the new person (the assignee) takes the place of the original renter and the assignee now deals directly with the landlord. Under this arrangement, the original renter is no longer responsible to the landlord once his landlord consents to the assignment. Also, see "Sublet."
- Bed: (n.) An accommodation for one-person in an off-campus housing rental, usually one room with use of common areas, which may be furnished or unfurnished. Sometimes a property manager will rent accommodations in the house "by-the-bed" as opposed to by the house or apartment. For comparison purposes, perch%u2019n displays pricing by-the-bed even in those cases when housing is rented by the unit or house.
- Features: (n.pl.) Standard attributes of off-campus rentals, such as off-street parking, laundry and nearness to transportation; other standard features may allow for special needs or requirements, such as pet-friendly or suitable for graduate students.
- Lease: (n.) This document sets down what the renter and the property owner agree are the rules (terms of the lease) that must be followed. This contract or agreement will specify how long the renter can stay in the property, how much the renter will pay, and what the landlord will provide, such as services, utilities and appliances or other equipment. Essentially It guarantees the renter the use of the rental and it guarantees the landlord payment.
- Individual Lease: (n.) Individual leases allow two or more people to live in the same off-campus rental but sign separate leases and pay separate rents. Under this arrangement, the property manager rents to individuals, which means that renters may or may not live with roommates of their own choosing.
- Joint Lease: (n.) Roommates chose to live together off-campus and sign one lease. This group of renters share joint responsibility for the lease and pay the rent collectively as a group.
- Multi-Family: (n.) (On the perch'n® apps,) a small building with up to five rental units in it with each unit accommodating one or more renters.
- Off-Campus: (a.) Located or available outside a campus (limited to a 10-mile radius by perch'n®); came into American usage in and around the 1950's.
- Renter's Insurance: (n.) A type of insurance that covers the renter%u2019s personal property from damage or loss and usually gives renter liability protection as well.
- Roommate: (n.) Off-campus roommates share an apartment or a house and split rent and expenses.
- Security: (n.) An amount of money that a renter pays when beginning to rent a property, such as an apartment or house; the property manager will hold until return to the renter at the end of the lease term. It can be used to pay for any damage or loss that the renter causes to the property. Landlords typically require a security deposit equal to one or more months of rent. Often, a separate security deposit will be added if the renter keeps a pet in the rental.
- Single Family: (n.) A stand-alone house; free-standing residential building.
- Sublet: (v.) A renter (as distinguished from the landlord or property manager) leases his rental to another person for the portion that is left on his lease. As a term of the lease, the landlord may prohibit subletting unless he is notified and gives permission. When subletting is permitted, the new person pays the rent to the original renter not the landlord and the original renter who is still responsible for the rent payments and lease obligations, continues to pay rent to the landlord. Also, see "Assignment."
- Utilities: (n.) Associated expenses for basic housing are: Electricity, Water/Sewer, Natural Gas, Propane, or Oil as well as Garbage. Which utilities are available can vary widely; some houses will have one utility for heating and another for cooking. Electricity, which is a standard utility for lights, appliances and gadgets, can sometimes be the source for cooking and/or heating as well. Telephone, cable or internet service is not considered a utility. In order to set up a budget, a renter needs to know if some, none or all utilities will be included with rent.