Frequently Asked Questions | Academy Terrace Apartments ABQ

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Apartment hunting can be both fun and challenging! Finding an apartment that’s affordable, in a good location and up to your living standards are just the first things you need to worry about when choosing the perfect apartment. Whether you’re a first-time apartment renter, or you’ve been in the game for a while, you’ll want to ask some important questions before you sign a lease and collect your keys. We’ve put together the top twelve questions renters should ask property managers BEFORE signing a lease.

How much is my rent, and how do I pay it

Base rent, pet rent, and covered parking stay the same each month. Utilities change on a monthly basis. Gas and Electric is paid directly to NM Gas & PNM. Water, Sewer, Trash, Common Gas (for water heater shared between each building), and CAM Fee is mailed out each month by a third party utility company. The resident will need to add their base rent/ any other monthly fees, i.e. pet rent or covered parking, onto their utility bill and pay that to the office each month. Rent is due on the 1st of each month. There is a 3 day grace period, therefore is late as of the 4th. If the resident is late there is a 10% late fee based off of the resident’s base rental amount. The resident can pay their rent here in the office with a personal check, money order, or cashier’s check. They can also pay their rent online through the resident portal. They can mail in their rent to us as well, or have their bank send one out monthly. Once their rent is late, the resident can only pay online or with certified funds, no personal checks.

What is the guest policy?

We allow our residents to have guests here however, they cannot stay here for more than 7 consecutive days. If they do, they need to be added to the Lease.

How do I get something fixed?

Residents can place their work orders online (through resident portal), in the office, or can call in their work order. Any work order that is an emergency maintenance gets those done right away. Any other work order, usually takes anywhere from 2-3 business days to get done. If there is a maintenance emergency after hours, the resident can call the office phone and answering service will get in contact with maintenance.

Does a smoke free policy mean there are no smokers in my building?

We do not have a smoke free policy here.

Where can I park?

Residents can park either in general parking spots or we have covered parking. Covered parking is an additional $20.00 a month per parking permit.

Do I need renter’s insurance?

Renters insurance is required. If the resident choose not to go through their own agency, they will need to be placed on our $10.00 a month insurance waiver. The waiver is just liability coverage.

What if I want to move out before my lease ends?

Each resident needs to provide the property with a written 60 day notice before vacating the apartment. If they are breaking their lease early, we still require a written 60 day notice along with an additional $1000.00 termination fee.

Can I sublet my apartment?

We do not allow subletting at this complex.

How much can my rent increase?

Residents rent will always increase come renewal time. Depending on market rent, rent can increase anywhere from 3-5%.

What if I want to paint my walls, or change something in the apartment?

Residents can paint the color of their walls if they choose to however, they will need to return it to its original color upon move out or they will be charged.

Are pets allowed?

We are a pet friendly community. We only allow up to one pet to be 35lbs or more inside of the apartment. We also have a breed restriction. There is a 50.00non-refundabe pet fee and 0.00 in pet rent for one pet. If you have two, which is the max allowed inside of an apartment, there is the 50.00 non-refundable fee, 50.00 pet deposit, and 0.00 a month in pet rent. Pets are not allowed in the fitness center, business center, or pool area. Pets are also not allowed to be left alone on patios/ balconies unattended.

What will the initial costs be to move in?

In order to hold an apartment and get the application process started, there is a 0.00 application fee (per applicant) and a 29.00 non- refundable administration fee. On the day of move in we require the security deposit. 50.00 for a Studio or One Bedroom, 50.00 for a Two or Three Bedroom. Only way a Deposit would be more is if we had to approve the resident with a condition, which we do not know until we run the application. Renters Insurance, either the policy or the 0.00 for the insurance waiver. Prorated rent left in the month (if they move in on or after the 25th of any month, next month’s rent is due on the day of move in). PNM and NM Gas confirmation numbers. If the resident has a pet, the pet fees and rent are due on the day of move. If they choose to have a covered parking spot, the rent for the spot would be due.