Glossary
Apartment Hunting Glossary
Twenty terms you will hear while renting in Dallas–Fort Worth, defined in plain English by licensed apartment locators—from guest cards and look-and-lease specials to effective rent and second-chance leasing.
Last updated Reviewed by DFW Apartment Locators Editorial Team
Terms A–Z
- Apartment locator
- A TREC-licensed real estate agent who finds apartments for renters at no cost; the apartment community pays the locator a referral fee after the lease is signed.
- Application fee / admin fee
- Non-refundable fees ($50–$350 combined) charged when you apply; some are waived during specials.
- Class A / B / C
- Industry grades for age and finish level: A is newest luxury, B is well-kept 10–25 years old, C is older value housing.
- Deposit alternative
- A small non-refundable fee or surety bond (e.g., Jetty, Rhino) that replaces a traditional security deposit.
- Effective rent
- The true monthly cost after spreading concessions across the lease. A $1,800 unit with one month free on a 12-month lease has an effective rent of $1,650.
- Garden-style
- Two- to four-story walk-up communities with surface parking, common in DFW suburbs.
- Guest card
- The visitor form a community asks you to complete on your first visit. Listing your locator here is what qualifies you for a move-in rebate.
- Income requirement
- Most DFW communities require gross monthly income of 2.5–3x the rent.
- Lease term premium
- Higher monthly rent for short leases (3–9 months) versus a 12–15 month term.
- Look-and-lease special
- A concession (often $200–$1,000 off or a waived fee) offered only if you apply the same day you tour.
- Mid-rise / high-rise
- Elevator buildings of five-plus stories, concentrated in Uptown, Downtown, Las Colinas and Legacy West.
- Move-in rebate
- Cash back a locator shares with the renter from the community's referral fee after move-in.
- Notice to vacate
- Written notice (usually 60 days in Texas leases) that you will not renew.
- Pet rent
- A recurring monthly charge per pet ($15–$50) in addition to a one-time pet fee or deposit.
- Preferred employer program
- Discounts (waived fees or reduced deposit) for employees of large local companies such as hospitals, airlines and school districts.
- Renters insurance
- Liability and personal-property coverage most communities require, typically $12–$25 per month in DFW.
- Second-chance leasing
- Communities that approve renters with broken leases, evictions or credit challenges, usually with a larger deposit.
- TREC
- The Texas Real Estate Commission, which licenses apartment locators and real estate agents in Texas.
- Valet trash
- Doorstep trash pickup billed monthly ($25–$35), common in newer communities.
- Weeks free / months free
- A concession that waives rent for a set period, usually prorated across the lease term.