Topic: How much do you charge for month to month fees for apartment leases?

I would like to hear about month to month fees. What do you charge & what state do you live in? We charge market + $50 & I'm from Michigan! Go!

We also do the same here in Texas

$75 & I’m from Minnesota!

Market + $150, Texas

Denver here. My Yieldstar properties the MTM premium can be as high as 3-4K depending on expiration’s. My non Yieldstar we do market + 500

Market plus $150, NC

Market plus $150 Orlando Florida

Market plus $350 - Texas

40% over market

Market plus $200.. luxury property in Nebraska

Market plus $200. I’m in Texas.

We use LRO but prior in my career it was usually 20% over current.

Texas market &$200.00
Manage

Shortest lease option plus $100 - California

We charge market rent plus $100. Jacksonville, FL

+$200 per mth

Market rate plus $100.00 - Pearl, MS

$250 in Virginia

Market rate plus $100- Louisiana

Looks like I'll be proposing we raise our fee to at least $100! Are there landlord laws to limit mtm fees in your state?

Market + $200 Georgia

Market plus $300 Houston, TX

Market plus $100 stephenville texas

We charge the following
6-9 months -$50 extra per month
3-5 months -$100 extra per month
MTM-$150 extra per month

In MA and we do 1 year term for the first year which then converts to a 30 day term TAW after year 1

Michigan market plus 20%

$1000 mtm

Northern Indiana - Market plus $100

What ever LRO says the 1 month rate is.
So let’s say your rent was $500 and LRO says the 1 month rate is $785 subtract the difference of the rent. The left over is the month to month fee.

Market + $500 in Denver!

35% on top of Market Rent in NC - using LRO.

Market rent + $250 Dallas, TX

Denver $200

Texas and c or b class charging $100-$200 plus market rent

Market plus $100- South Carolina

Newport News VA market + $200

Market + $300 GA or Yieldstar rates.

Market plus $200

Texas- market +100

Okc-We had to change to market + $200 because we had way too many residents okay with paying $50, which left our risk for move out too high!

250. Sc

Market plus a $600 MTM premium

100 TX

We were doing market plus $100 but too many people were going on MTM. So we raised it to market plus $250. Texas

Market plus $250

Ks market plus 50. Getting ready to up it to 75.

Nebraska - new 12 month rate+ 5% only after completed original 12 month term.

Market + $390. Dallas, TX

California market + $100

Texas and we were $100 over current market rent.

I have 10 % that are on my. Some have been on it for 5..6 ...7 years!!! I've tried to get them to sign a lease & save $600 a year but they won't budge! Even after 4 increases in 15 months!

$200.00 - Reno NV

Market + $250, Northern California

Cincinnati- market +$300

When I was I the business It was market and 100 texas

Market + $100.
The company I used to work for charged Market + $250!
Indiana

Market + $200, Tucson AZ

$250 AZ

$200 LA

Market + $100 Michigan

I think MTM fees should be as high as your market will support. Making it too easy or convenient to roll MTM can cause such a burden on your community and makes managing your lease expirations so much more difficult! Especially if you end up with unexpected/additional move out's in the slow season. The additional revenue is nice, but could potentially be significantly offset by vacancy loss. But, that's just my 2-cents

Market plus $100 in Houston Texas

300 over market for 3 to 6 or my after renewal
200 for 7-11

Market + $50 Central California

Georgia. My last company was on yieldstar and we would take the 12 month plus 20% of that. So if rent was $798 multiple 20% ($160) the $160 would be MTM fee. Made it a little hard to budget MTM fees. Yieldstar does give an actual MTM rate though.

$250 LA

$250 FL

Oregon (but not all do it the same here) $25 extra for 6 month, $50 for MTM

Market plus $50-Texas

$300 AL

Market + $250 CO

Up to $500. San Diego, CA

Austin, Tx: market rent (which is usually at least $100 more/mo, plus $150 mtm monthly fee.

Market +$100. Arkansas

10%

You guys are all amazing! I appreciate all the input & the fantastic response in such a short time! Thank You! I am going to research Michigan Landlord Tenant law in regard to This! I didn't see any One else from Michigan!

3% Cincinnati

$300, chicago

$250 OH

Market plus $500 AUSTIN Texas

$200 plus Market from GA

Market rent + $200 each month. They just tell us the last month when they pay, ie they pay August 1st and they tell us they will be out August 31st. I live in Colorado!

Market plus $150, increasing by $50 each 60-90 days

MR plus $100 MTM fee in Florida

Market plus $100, Florida.

We are on yield star so it varies. When we purchase a property and before yield star goes live we charge on average $200. We have properties in many states, including MI.

Current rent + $300

Tn 150 on top of market

Mkt rent plus $300 Maryland

$100 plus market from TX

Northern California from $300-400 increasing. Where I live - Frisco, TX it’s been from $150-200 but with all the new killer product I see it going as high as $500 no problem!

Located in Kansas, we’re on LRO & the market determines the MTM rate.

Market plus 300 and a notice to vacate

$100+market rent

I’m surprised to hear so many people still using “market rents” out there with the adaptation of LRO, Yieldstar and the like

We actually dropped LRO at many of our communities. I know some love LRO but I really like that we set the rates and they don’t fluctuate daily.

LRO MTM rate plus $200 fee

The entire point of the month to month fee is to get them to sign back into a new contract and tie them into another year of rent. The higher the better to a certain extent. Pushing it too high could result in some "you are trying to screw me over" type feelings from your residents and they may leave with a bad taste. With that being said, the residents that get all the way to not signed a new lease, not put in a notice, and are now being charged month to month fees are going to move out anyways or just needed one more month until they are getting a house, new place, etc. Very small percentage gets to that point and pays for a month like that then signs a new lease to stay. Most of these renters that get to this point simply are charged a prorated amount of the month to month fee due to a late move out, late notice, or late signing of a renewal. If they do pay that fee for a full month then stay, they usually had no where else to go, rent was still more expensive elsewhere due to the loss on lease they have with you and they thought otherwise, or they could afford the higher price of the fee and took their time signing a new lease. Wouldn't that be nice to be able to do!

Of course great costumer service in and out of the office is always the carrot to help avoid using the stick of month to month fees to get them to renew.

North Carolina - Market + $200

Market rate plus $100

I agree that the premium rent is not a satisfactory replacement for a new lease and can lead to ill-timed vacancy. I have chosen to make mt MTM premium around market plus $300. But in an effort to keep the tenant who doesn't want to commit to another full year, I offer a shorter lease term that has a smaller premium than MTM.
It allows me to control the months that my leases end. In california, we seem to definately have a "renting season" where rents are higher. I hate to try to lease October through february. We have such horrid winters here in California (HAHAHA)

I charge 300 euros. I have a 3-room apartment

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