Alessandra Metabolic Fitness

You're browsing an apartment, love it, and turn to the realtor showing the home and say that you'd like to rent the place ... tell me, are you aware of the names and purposes of the different fees you'll need to account for as a renter? There are many, and I've assembled them below for you to save you time and give you a starting point. Hope this is helpful! ----- Rent reforms have capped the SECURITY DEPOSIT to one month’s rent. This means you should not be asked for the... last month’s rent in addition to the security deposit. A BROKER'S FEE is a separate fee that usually ranges anywhere from one month’s rent to between 12 to 15 percent of a year’s total rent. The broker’s fee includes lining up multiple apartments to view that fit your criteria, information about the paperwork you will need and negotiate rent and fees on your behalf. APPLICATION FEES are capped at $20. Renting a co-op will have board fees from $250 or more. PET FEES are changing. Landlords are now rolling what was once a pet fee into the rent, usually around $50 per month per dog. GUARANTOR FEES pertain to Institutional guarantors like Insurent, who generally charge renters a fee for their service, usually 70 to 85 percent of one month’s rent for U.S. RENTERS INSURANCE is charged by some buildings, typically co-ops, making it mandatory for tenants to take out renters insurance and proceed to ask for proof of insurance as part of the lease signing. AMENITY FEES could be charged monthly or upfront annually depending on the building, may be offered on an opt-in basis or they be added to the balance of all new tenant’s rent bills. MOVE-IN FEES are generally required by co-op buildings and are refundable after the move-in, once it is determined no damage was caused to the building by the move into the building. The fee is generally between $500 to $1,000. LATE RENT FEES are charged up to $50 or five percent of the monthly rent, whichever is less, if you are late with your monthly rent. Let me know what was your biggest insight below, or let me know if this was helpful! I look forward to your feedback! #AlessandraGensler #AlessandraGenslerRealtor #AlessandraGenslerRealEstate #AlessandraGenslerHomes #DouglasElliman #DouglasEllimanRealEstate #ThePowerofElliman #TheNextMoveIsYours