1 — ADVERTISED VS REAL Advertised Rent: $1,750/month Known Real Monthly Cost: $1,985/month + electricity Difference From Advertised Rent: +$235/month + electricity Move-In Cash Required: Confirmed minimum $825; potentially $2,575+ depending on when rent and monthly charges are collected First-Year Expense: $22,395–$24,145 + electricity Effective Monthly Cost: $1,850.38/month + electricity across the 13-month lease if the free month applies only to base rent and all other monthly charges continue Housing Cost % of Take-Home Income: 36.1% + electricity Biggest Cost Surprise: The apartment is really at least $235/month more than the advertised rent, before electricity. Verdict: EXPENSIVE FOR YOUR INCOME 2 — FEE X-RAY Cost Amount Classification Base rent $1,750/month MONTHLY MANDATORY Valet trash $35/month MONTHLY MANDATORY Package service $20/month MONTHLY MANDATORY Parking $125/month MONTHLY MANDATORY Internet $55/month Known recurring cost; whether lease-mandatory is UNCLEAR Electricity UNKNOWN UNKNOWN Application fee $75 ONE-TIME NON-REFUNDABLE Administration fee $250 ONE-TIME NON-REFUNDABLE Security deposit $500 REFUNDABLE Pet costs $0 Not applicable — no pets One month free $1,750 potential base-rent saving TEMPORARY PROMOTION Known recurring monthly total: $1,750 + $35 + $20 + $125 + $55 = $1,985/month + electricity 3 — HOW MUCH CASH DO I NEED TO MOVE IN? Application Fee: $75 Administration Fee: $250 Refundable Deposit: $500 First Month Rent: UNKNOWN at move-in, because the listing does not say which month receives the free-rent promotion. CONFIRMED MOVE-IN CASH $75 + $250 + $500 = $825 minimum If a full $1,750 rent payment is also required before move-in: $825 + $1,750 = $2,575 UNKNOWN POSSIBLE MOVE-IN COSTS The listing does not tell us: whether the free month is the first month, last month, or prorated; whether $35 trash, $20 package service, and $125 parking are collected before move-in; when the first $55 internet payment is due; whether any electricity deposit/setup charge exists; whether there are other undisclosed move-in/community fees. The $500 deposit counts toward cash needed, but it is not an expense if fully refunded. 4 — TRUE MONTHLY COST Normal month: $1,750 rent $35 valet trash $20 package service $125 parking $55 internet = $1,985/month Plus: Electricity: UNKNOWN TRUE KNOWN MONTHLY COST $1,985 + electricity Extra known cost above advertised rent: $1,985 − $1,750 = $235/month 5 — PROMOTION REALITY CHECK Lease: 13 months Promotion: 1 month free Normal Monthly Payment $1,985 + electricity Promotional Savings If "one month free" means one full month of base rent: $1,750 It is UNKNOWN whether trash, package service, parking, internet, or other charges are also waived during that month. Base Rent Across 13 Months Without promotion: 13 × $1,750 = $22,750 With one full base-rent month free: 12 × $1,750 = $21,000 Average base rent: $21,000 ÷ 13 = $1,615.38/month If all $235 of known monthly extras continue for all 13 months: 13 × $235 = $3,055 $21,000 + $3,055 = $24,055 $24,055 ÷ 13 = $1,850.38/month + electricity That $1,850.38 is not the normal monthly bill. It is only the lease-average cost created by spreading the temporary concession over 13 months. 6 — FIRST-YEAR MONEY TEST Because this is a 13-month lease, the first-year calculation covers the first 12 months. There is one important unknown: which month is free. If the free month occurs during months 1–12 Base rent: 11 × $1,750 = $19,250 Known recurring extras: 12 × $235 = $2,820 Non-refundable fees: $75 + $250 = $325 TRUE FIRST-YEAR EXPENSE $19,250 + $2,820 + $325 = $22,395 + electricity If the free month is month 13 instead 12 × $1,750 = $21,000 $21,000 + $2,820 + $325 = $24,145 + electricity So: Confirmed first-year range: $22,395–$24,145 + electricity, depending on promotion timing. Refundable Deposit $500 Therefore total first-year cash committed could be: $22,895–$24,645 + electricity But only $22,395–$24,145 + electricity is expense; the $500 deposit remains refundable. 7 — CAN I ACTUALLY AFFORD IT? Monthly take-home income: $5,500 Normal known housing cost: $1,985 + electricity Calculation: $1,985 ÷ $5,500 × 100 = 36.1% Your budgeting scale says: 35–45% = TIGHT And electricity will push the true percentage above 36.1%. MONEY LEFT AFTER HOUSING $5,500 − $1,985 = $3,515/month Then electricity must still be deducted. This does not tell us whether $3,515 is sufficient for food, debt, transportation, insurance, savings, entertainment, and other expenses. 8 — HIDDEN-COST RADAR CLEARLY DISCLOSED $1,750 base rent $35/month valet trash $20/month package service $125/month parking $55/month internet $75 application fee $250 administration fee $500 refundable deposit electricity paid separately 13-month lease one-month-free promotion MENTIONED BUT UNCLEAR Electricity amount Which month is free Whether "free month" means base rent only Whether monthly fees continue during the free month Whether internet is landlord-mandated When the deposit and monthly charges must be paid MISSING / ASK BEFORE PAYING UNKNOWN: water/sewer charges pest-control fees amenity/community fees renter's insurance requirement utility billing/admin fees electricity setup/deposit parking setup fees late/payment-processing fees move-out/cleaning charges deposit deduction rules renewal rent renewal fee increases 9 — WHAT HAPPENS AFTER THE PROMO? The one-month-free concession disappears. Normal known monthly cost remains: $1,985 + electricity Do not budget as though this apartment permanently costs $1,615 in rent or $1,850 total. At renewal: Renewal rent: UNKNOWN Future parking, trash, package, internet, and other fee increases: UNKNOWN 10 — 7 QUESTIONS BEFORE YOU PAY “Can you send me a complete written list of every mandatory monthly charge in addition to the $1,750 rent?” “Exactly how does the one-month-free promotion work—which month is free, and does it cover only base rent or also monthly fees?” “Are water, sewer, electricity, internet, trash, package service or any other utilities billed separately, and are there any utility administration fees?” “Is the $125 parking charge mandatory, and are there any additional parking registration, permit or setup fees?” “What exactly are the conditions for receiving the full $500 security deposit back, and what charges can be deducted from it?” “Are there any additional application, administration, amenity, community, insurance, move-in or move-out charges that aren't shown in the advertised price?” “What is the current policy for rent and mandatory-fee increases when this 13-month lease ends?” 11 — FINAL VERDICT EXPENSIVE FOR YOUR INCOME Advertised Rent: $1,750/month Known Real Monthly Cost: $1,985 + electricity Extra Monthly Cost: $235 + electricity Move-In Cash: $825 confirmed minimum; potentially $2,575+ First-Year Expense: $22,395–$24,145 + electricity Effective Cost: $1,850.38/month + electricity across 13 months, if the concession removes one month of base rent only Housing / Income Ratio: 36.1% minimum → TIGHT Biggest Hidden or Unclear Cost: Electricity plus the exact terms/timing of the free month Most Important Question to Ask: “Please give me the exact total I will pay each month—including every mandatory fee—and confirm exactly how the one-month-free concession is applied.” The key takeaway: this is not really a $1,750/month apartment. Your known normal cost is already $1,985/month before electricity.