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

Topic Author

Nancy Alex

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Posts: 13

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!

Posted 5 years 8 months ago

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Maria Hantz

We also do the same here in Texas

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Michelle Gulstrand

$75 & I’m from Minnesota!

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Anonymous

Market + $150, Texas

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Chad Christian

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

Posted 5 years 8 months ago

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Chelsea Alise

Market plus $150, NC

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Shannon Procacci

Market plus $150 Orlando Florida

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ShaNele Farmer

Market plus $350 - Texas

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Charles Llewellyn

40% over market

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Jessica Regan

Market plus $200.. luxury property in Nebraska

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Kimberly Reynolds Evans

Market plus $200. I’m in Texas.

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Brian Lauro

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

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Paula Hegarty Standridge

Texas market &$200.00
Manage

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Lori Guerrero

Shortest lease option plus $100 - California

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Kathleen Campanelli

We charge market rent plus $100. Jacksonville, FL

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Jen Morton Kemp

+$200 per mth

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Christy Locklar Knapp

Market rate plus $100.00 - Pearl, MS

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Stephanie Renee Huskey

$250 in Virginia

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Re'gan Nicole

Market rate plus $100- Louisiana

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Topic Author

Nancy Alex

Karma:
Posts: 13

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?

Posted 5 years 8 months ago

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Tina Hope Parker

Market + $200 Georgia

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Elizabeth Wall Thorn

Market plus $300 Houston, TX

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Natalie Rogers

Market plus $100 stephenville texas

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Chelsea Alise

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

Posted 5 years 8 months ago

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Bianca Carlson

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

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Shannon Danielle

Michigan market plus 20%

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Chana Castle Lambert

$1000 mtm

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Angie Pletcher

Northern Indiana - Market plus $100

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Michi Hewitt

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.

Posted 5 years 8 months ago

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Stacia Scharf

Market + $500 in Denver!

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Misty Haskins

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

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Shaqueita Walker

Market rent + $250 Dallas, TX

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Lisa Odle

Denver $200

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Char Bill McCurdy

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

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Hope Clayborne

Market plus $100- South Carolina

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Alison Carlson

Newport News VA market + $200

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Danielle Earwood

Market + $300 GA or Yieldstar rates.

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Colby Cartwright

Market plus $200

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Rikki McDaniel

Texas- market +100

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Rebekah Rawlins

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!

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Kevin Quat

250. Sc

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Heidi Princess Moneyy

Market plus a $600 MTM premium

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Alexis Gomez

100 TX

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Eden Arielle Bixler

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

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Ashley Baxley

Market plus $250

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Andrea Ray Schen

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

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Lauren Orsi

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

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Portia Lane

Market + $390. Dallas, TX

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Mary Root

California market + $100

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Sharon Teel Carbaugh

Texas and we were $100 over current market rent.

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Topic Author

Nancy Alex

Karma:
Posts: 13

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!

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Jennifer Burroughs

$200.00 - Reno NV

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LeeAnn Mack

Market + $250, Northern California

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Miranda Sabanagic

Cincinnati- market +$300

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Susan Davis Vloedman

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

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Charlotte Wilson

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

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Patsy Figueroa-Garcia

Market + $200, Tucson AZ

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Nicole Hayes

$250 AZ

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Brittney Macom

$200 LA

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Teri Dawn Phillips

Market + $100 Michigan

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Stacia Scharf

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

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Tricia Klemstein Stanley

Market plus $100 in Houston Texas

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Amy Freeman

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

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Janice Marcum Quill

Market + $50 Central California

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Celena Montantes - Mayo

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.

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Serena Bromley

$250 LA

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Carissa N. Latorre Serra

$250 FL

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Rose Gallifrey

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

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Kacie Loar

Market plus $50-Texas

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Benjamin Flatt

$300 AL

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Melanie Chavez

Market + $250 CO

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Dana Marie

Up to $500. San Diego, CA

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Robin Reich

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

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Teresa Stone Bruno

Market +$100. Arkansas

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Beth Burch Stolts

10%

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Topic Author

Nancy Alex

Karma:
Posts: 13

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!

Posted 5 years 8 months ago

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Nancy Marquez

3% Cincinnati

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Nichole Granquist

$300, chicago

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Amber Coker

$250 OH

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Stacey Lee Kelly

Market plus $500 AUSTIN Texas

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Monica Sommers

$200 plus Market from GA

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Amanda Beason

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!

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April Moss

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

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Kelly Jones-Wallis

MR plus $100 MTM fee in Florida

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Adriana Sanchez Valencia

Market plus $100, Florida.

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Michelle Cornelison-Cruz

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.

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Shawn Davis Akins

Current rent + $300

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Jera Moran

Tn 150 on top of market

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Eve Coven

Mkt rent plus $300 Maryland

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Lisa Riggs

$100 plus market from TX

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Tracey Hopkins

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!

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Villa West Apts

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

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Alyson Canary

Market plus 300 and a notice to vacate

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Ashley Gibson

$100+market rent

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Brian Lauro

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

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Brittney Macom

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.

Posted 5 years 8 months ago

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Jessica Stroud Otwell

LRO MTM rate plus $200 fee

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Robert Durham

Karma: 1
Posts: 1

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.

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Katy Boone

North Carolina - Market + $200

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Rachel White

Market rate plus $100

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Don Garcia

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)

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Vittigs

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

Posted 3 years 4 months ago

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Stebryn

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I'm looking for an apartment in California. I need to rent an apartment for half a year. I'm just going on a business trip in two weeks. I would like to learn more about the apartment you are renting out. I hope it will fit all my criteria. First, it must be large. Second, the windows should face the courtyard so that I can see my car. In short, I need your proposed apartment to be similar to doorman apartments central queens . I just lived in different apartments, but I felt most comfortable only in this one.

Posted 3 years 4 months ago

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Last edit: by Stebryn.

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

Nancy Alex

Maria Hantz

Michelle Gulstrand

Anonymous

Chad Christian

Chelsea Alise

Shannon Procacci

ShaNele Farmer

Charles Llewellyn

Jessica Regan

Kimberly Reynolds Evans

Brian Lauro

Paula Hegarty Standridge

Lori Guerrero

Kathleen Campanelli

Jen Morton Kemp

Christy Locklar Knapp

Stephanie Renee Huskey

Re'gan Nicole

Nancy Alex

Tina Hope Parker

Elizabeth Wall Thorn

Natalie Rogers

Chelsea Alise

Bianca Carlson

Shannon Danielle

Chana Castle Lambert

Angie Pletcher

Michi Hewitt

Stacia Scharf

Misty Haskins

Shaqueita Walker

Lisa Odle

Char Bill McCurdy

Hope Clayborne

Alison Carlson

Danielle Earwood

Colby Cartwright

Rikki McDaniel

Rebekah Rawlins

Kevin Quat

Heidi Princess Moneyy

Alexis Gomez

Eden Arielle Bixler

Ashley Baxley

Andrea Ray Schen

Lauren Orsi

Portia Lane

Mary Root

Sharon Teel Carbaugh

Nancy Alex

Jennifer Burroughs

LeeAnn Mack

Miranda Sabanagic

Susan Davis Vloedman

Charlotte Wilson

Patsy Figueroa-Garcia

Nicole Hayes

Brittney Macom

Teri Dawn Phillips

Stacia Scharf

Tricia Klemstein Stanley

Amy Freeman

Janice Marcum Quill

Celena Montantes - Mayo

Serena Bromley

Carissa N. Latorre Serra

Rose Gallifrey

Kacie Loar

Benjamin Flatt

Melanie Chavez

Dana Marie

Robin Reich

Teresa Stone Bruno

Beth Burch Stolts

Nancy Alex

Nancy Marquez

Nichole Granquist

Amber Coker