Topic: What is your premium on month to month leases?

What is your premium on month to month leases? Please state dollar amount, your company, and location. Thank you in advance!

Market rent + $100 month to month fee. I am in Huntsville, Alabama with Brookside Properties.

Market Rent + $200 month to month Fee. Houston, Texas Shamrock

Market Rent +$100, Detroit

Southern New Mexico. Small town. Small complex. We don't charge extra for month to month, but a couple of other complexes do.

What is the logic for the extra money?

It’s to deter people from going month to month. If they sign a lease they just can’t bounce in 30-60 days without penalty.

$200 per month Minnesota

Whatever mri calculates it to be

$150...Broken Arrow, OK... Haley Residential

Market plus $200 Asheville, NC

$500 Florida

We are on yieldstar so it ranges somewhere between 200-800 more per month. Fort worth, Texas.

$20 for a one bedroom and $30 for a two bedroom. (After they complete their 1st 6 or 12 month lease) Ticon Properties NC

Market rent plus $50 per month in Milwaukee...but this is just our 22 Properties ...I am sure there are other places that charge more

$300

Market rent +$150 MTM fee, must complete a minimum of a 3 month lease term.

Was market plus $100, but just increased to market plus $250. Dallas,TX. Had too many staying on mtm.

Market ➕ 200.00 Tucson Az

Market + $150

Market plus $300 Maryland

$500

$300 Houston Texas

Reno NV. 200 per month for 3 to 6. 100 for 7 to 11

$100

I appreciate your quick feedback!!! Thank you all for the insight!

Market + $100 MTM Detroit, MI and Owosso, MI

Market plus $200- south Jersey

$500. But that’s in Scottsdale & midrise luxury.

$300 in San Diego CA

Market plus $250 Dallas, TX

Market + $100
⚜️⚜️New Orleans⚜️⚜️

The company Im at does 1 year lease that converts to a 30 day TAW after the one year. The previous company I was at only did year leases, no TAWs unless the tenant has proved to be an absolute nightmare and we’ve given them a second chance. This is in MA, I’ve never heard of a MTM fee

Market + $300 Cincinnati, OH

Market + $300 Seattle, Wa

Market + 150, Houston, texas

Market plus 100 - Twin Cities, Kansas City, Des Moines, Omaha, Sioux City

Market + $200 - Lafayette, La

$200, Indianapolis

$200 Missouri

Market +15%. Mars, Pa

I’m on LRO. Ours have been averaging $800/month. Way too high but I get the system.

The higher the MTM rate the better, this will encourage them to sign a lease...we have 864 units and only 7 MTM

FL, use price optimizer software. Yield Star that creates the pricing.

Wow.. I knew we had a low MTM fee... but compared to the ones I am seeing here I am amazed at how low we are in comparison

In prior lives, varied based on market/submarket, occupancy, demand, etc (any changes ALWAYS documented whether Rev Mgmt system or manual Rev Mgmt)

We are $50 for MTM near Portland Oregon

$100 to $200 in Dallas Fort Worth

$100 in Austin, privately owned

Market plus 400.00

$100 in Northern Indiana

Market plus $100 San Antonio TX

Market plus $300 ~ Brittany Place Apts, Hendersonville, NC

Market + $250 with my last company in Austin and Houston.
Market + 20% with my current company in Tampa, Fl

Market + $100 in Austin

5% of 12 month renewal term but only after they’ve completed the initial year long lease. Omaha

Market + $100 in FL

Market + $50 in Roseville, Mi Kensington Place Townhomes

We are in Panama City, Florida
Lease rent plus $100.00 for 3 months, 7 months lease rent plus $50.00 and 10 months lease rent plus $35.00

We started charging $150 per month extra for a month to month lease and $75 per month extra for a 6 month lease. We started doing this as of the first of this year on new rentals only and are not applying it to existing residents on renewals. We have found that a number of people are willing to pay the up-charge and we are just about the only luxury community in our area that offers these options. We have furnished corporate units and regular unfurnished units.

Any increase amount that would apply to lease renewal + $300 Cincinnati, OH

$200 MTM + Market rate
Austin, TX - Townhollow

We are on LRO - average increase is about $500. Dallas TX

+$200 Cincy OH

Market rent + $100.00 Abilene, Texas Augusta Realtors

25% premium on base rent charge- Pittsburgh, PA.