Transfer Fee

[Neal1421]

What is the name of your state? TN

I have lived in my apt since Oct. 2005 and have never been late on my rent. Last week, I received a letter saying that my lease was up at the end of July and they gave me the new rates for my apt. After reviewing them, I decided that I no longer wanted to stay in my current apt and wanted to upgrade. When I contacted the office about moving to another apt within the complex when my lease is up, they said sure but I will have to pay a transfer fee.

I paid a $350 deposit on my apt when I moved in which when I leave the complex will hopefully be returned but this "transfer fee" is non refundable. My question is if my lease is, why should I have to pay this non-refundable transfer fee? If I didn't sign a new lease, I would be moving out of the apt anyway, and I have always paid my rent on time and never had any problems.

Can they do that?

 

[LindaP777]

Negotiate.

 

[Alaska landlord]

Sure they can, state law permitting. .

The fee is to discourage tenants from revolving back and forth between units. Your much smaller unit will take longer to rent than the one available right now. Then there is the additional time it takes management and maintenance before your apt is market ready. They are banking on you not moving or on their ability to have a potential renter available to move in by the time you vacate.


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[Neal1421]

Sure they can, state law permitting. .

The fee is to discourage tenants from revolving back and forth between units. Your much smaller unit will take longer to rent than the one available right now. Then there is the additional time it takes management and maintenance before your apt is market ready. They are banking on you not moving or on their ability to have a potential renter available to move in by the time you vacate.


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I guess I understand what you are saying, I just think it's bad business. My lease is up and I could move to another apt complex, however I am chosing to stay with the complex and move to a slightly larger apt. I could understand if I were only halfway into my lease, but I'm not. And I will be paying more in rent by moving than by staying in the apt that I have now, so they are actually making more money off of me by staying.

If I were to just leave the complex at the end of the lease they would still have to wait for another tenant to move in so I guess I just don't understand why they would charge me when they will still have my security deposit and I'll be paying more rent. It makes me just want to leave the complex all together.


Oh well. I will see if they are willing to negotiate with me. If not, I guess I will be moving.

 

[Cvillecpm]

The owner's idea of revenue enhancement......rental vacancies are coming DOWN as the market surplus is being absorbed...pay the fee or move to another complex.

 

[Neal1421]

The owner's idea of revenue enhancement......rental vacancies are coming DOWN as the market surplus is being absorbed...pay the fee or move to another complex.

I actually just got off the phone with the property manager who told me that they had been working on their policy regarding transfer fees and that the person that I spoke to yesterday was not aware that the fee would no longer apply to tenants moving to other units at the end of their lease.

She has offered me another apt with no transfer fee and I have accepted. I will be signing the papers tonight.

Thanks for everything!