Renting fees at Citylights
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Why is it so expensive to rent an apartment at Citylights, does anyone know? I would really like to know your opinions.
I am currently renting an apartment in the building and my lease will expire in few months. I really like the building -- I got used to it -- and I wanted to stay here but I found out that I have to go through the same renting process again... this is just too expensive. On top of paying all these fees I also found out that my rent will go up by about 14% !? Also, what is interesting to me is that all apartments are priced same -- in terms of rent -- regardless of what view you have... this just does not make any sense.
Here are the fees I was given:
1. $350.00 Application Processing Fee
2. $250.00 for credit check
3. $100.00 Move-In Fee
4. $500.00 Move-In Deposit - this one is refundable...
In total that is $700 in fees (excluding the $500 refundable fee).
Also, I was told that the review board does not have a streamlined package for those individuals that are already subletting in the building. Is there anyone on the board who can explain this to me. I understand the credit check -- but that costs $50 -- and a letter from my employer but this does not explain all the other fees. Also, I feel that there should be no dramatic increase in rent - which almost mirrors that of Avalon - due to facade work. I would not mind paying a little more so that I could enjoy all the amenities but Citylights does not have that many amenities to enjoy: tennis courts are closed and there is no common area for tenants...
Your thoughts please...
I called up Rose Associates since they are the new bld managers and they sent me a sublet application. If you are a shareholder you pay $1,000 if leasing for 6 months to 1 year. If you are leasing for "1 yr and 1 day" to 2 years you will pay $2,000. The fees I listed up there are for applicants -- those renting the apartment from the shareholders.
None of the fees you describe above seem justified for an extension of a lease, including a "processing fee," and I have never encountered this anywhere before. Of course, I have never rented from a Coop. If I were in your shoes I would send a response setting forth what you consider an appropriate fee for renewal (the going rate to my knowledge is USD 0) and for the rent.