5 Questions Students Should Ask Before Leasing an Apartment in Philadelphia

In less than a few months, Drexel University, the University of Pennsylvania, and the University of Sciences will welcome students to their campuses for the start of a new school year! Since the start of the fall semester is right around the corner, it’s the perfect time for new and returning students to find an off-campus Philadelphia apartment that fits their needs. The apartments at the Hub on Chestnut Street and 3939 Chestnut are the perfect choice for students and graduate students looking for convenience, space, and an atmosphere that’s conducive to their studies and social life.

If you’re new, enrolled or graduate student searching for off-campus housing in University City, here are five questions to ask leasing agents to help find the right apartment. Below are our answers as they pertain to the 3939 Chestnut and the Hub on Chestnut locations.

Are there any move-in fees or upfront costs (including a security deposit)?

This is probably the most important question to ask at the start of your student apartment search. Although some apartment ads appear to offer a budget-friendly rental price, they often leave out information regarding up-front costs, fees, and deposits. When those additional costs are added up, a student can quickly become overwhelmed with expenses they were not prepared for.

Application fees and security deposits are required for all Reinhold Residential properties, including 3939 Chestnut and the Hub on Chestnut Street.  Application fees are $45 per applicant with a $250 reservation fee that is applied to the security deposit. There are no additional charges or fees for amenities, and a reduced security deposit fee may be available for applicants who meet eligibility.

Are student residents required to carry rental insurance?

Another additional expense student renters have to consider is the possible need to purchase renter’s insurance as part of a lease agreement. Though not required by all rental properties, proof of renter’s insurance is now a very common criteria for rental properties.

All residents of 3939 Chestnut and the Hub on Chestnut Street are required to have a valid renter’s insurance policy. Although we understand that this is an additional expense for students, renter’s insurance helps protect your assets in the event of an emergency or liability.

Does my roommate have to sign the apartment lease, too? 

Students wishing to reduce their living expenses may consider a roommate when looking for a new off-campus apartment. Even though it seems like signing a lease agreement under your name and then taking in a roommate afterward isn’t a big deal, most rental properties would disagree. To avoid any potential issues or conflicts, many rental properties require that all occupants sign the lease agreement. This protects the property owner and the renters from any lease infractions or violations.

Reinhold Residential requires that all roommates who plan to occupy the same apartment must sign the lease agreement. This ensures that all student occupants of the rental unit are bound by the same terms. For students who wish to rent apartments for a limited amount of time (one semester or a school year), flexible lease options may be available. However, these options are subject to management approval and depend on current availability and timing.

How much notice is required for lease renewal?

Since every apartment and the rental property has different requirements and policies regarding lease renewal notifications, this is something students need to ask during their first inquiry or property tour.

Sixty days’ notice is our standard requirement for all of our properties, including 3939 Chestnut and the Hub on Chestnut Street.

Are your apartments fully furnished? 

Students making the move from campus life to off-campus apartments often forget that, unlike dorms, most apartments are not furnished. If you’re looking for an apartment that you can simply move into and occupy without worrying about buying furniture, then you should confirm this information with the leasing office or property manager.

All of our University City apartments at 3939 Chestnut and the Hub on Chestnut are unfurnished. However, Reinhold Residential has partnered with American Furniture Rental to provide discounted furniture packages to students.

If you’re a Penn, Drexel, or University of the Sciences student interested in the University City apartment, consider the options at our 3939 Chestnut and the Hub on Chestnut locations. Reserve your new apartment for fall by speaking with a leasing agent today! 

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