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vbean

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Posts: 2
Reply with quote  #1 
I don't mind getting all my information straight, and asking for the other sides opinion, I am a renter.  Had a one year lease, renewal time comes up and the rent gets raised by $50, I opted not to renew due to declining market, I am still there 60 more days and they are advertising it for $50 less then my original lease.  If I still want it, they want a $260 administration fee (for being within 60 days) and only at the higher rate.  Fair and legal?
I think the management company is churning for fee profits.  Am I missing something. thanks vbean
OHlandlord

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Posts: 3,734
Reply with quote  #2 
Afraid it is fair unless you can provide some proof of discrimination.  No law says they have to charge every tenant the same rent for the same units.  Legally, they can charge whatever rent they can obtain for the unit.  So 2 identical units, side-by-side, rented on the same day, can be rented for 2 different amounts.  If you are willing to pay the higher rent for the unit, they will take it.  If not, they will re-rent the unit for whatever they can get.  Sounds to me like they really don't want you to stay there.

Administrative fees are prominent everywhere, even in buying houses.  $260 to re-write a lease is high.  But not as high as many management companies charge an owner.  Some PM companies can charge the owner as much as one month's rent just to re-new the lease.  I suspect the owner of this place won't pay that much for a renewal and the PM company is trying to make the re-leasing fee some other way (by charging the tenant).

If you don't like the deal, feel free to find a new place, give appropriate notice in writing, and move to a better place.  Doesn't sound like they want to negotiate.  Best of luck.

vbean

Registered:
Posts: 2
Reply with quote  #3 

thanks for the reply, good information.  I should have mentioned I pay my rent early, never called in for anything, and took great care of the place so it must be about the money.  thanks again

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