Condo fees (Fine: for sale, renter, HOA) - New York City - New York (NY) - City-Data Forum

crescent22 · 03-27-2013, 07:17 PM

Been a while since we rented - What's the deal with condo fees for a renter? What should they be for a 1-bed in the Upper East in a decent but not luxury building (has gym & playroom)?

Kefir King · 03-28-2013, 05:01 PM

Condo fees for a renter??? sounds like a contradiction in terms.
A renter rents and pays rent, a condo owner owns and pays home owner fees (HOA) and taxes.

Are you talking about a condo owner renting to someone? Then the rent is whatever the rent is and the condo owner continues to pay the HOA and taxes.

crescent22 · 03-28-2013, 08:44 PM

Not one place I am looking at- $2000 a year, owner is trying to split it btwn themselves and the renter.

Titus Pullo · 03-28-2013, 09:43 PM

Are you referring to maintenance fees? And they amount to only $2K per year?
Something doesnt make sense here.

crescent22 · 03-29-2013, 02:12 PM

No, it sounds like a separate fee for amenities- unclear if resident owners pay also, but it's claimed to apply to renters.

it most definitely is not the maintenance. That is very transparent- you can see listings of other apts for sale and what the common charges are.

I_Love_LI_but · 03-29-2013, 02:42 PM

Quote:

Originally Posted by crescent22

Not one place I am looking at- $2000 a year, owner is trying to split it btwn themselves and the renter.

That is the owner's responsibility. If he wants to "split" it with the tenant, then he needs to charge enough rent accordingly. A tenant is only responsible for rent and utilities that are in the tenant's own name.

Kefir King · 03-30-2013, 06:31 AM

^^^^^
Exactly,

Whatever hoops the owner wants to jumps through to justify to himself what he charges a renter is entirely up to him. He could charge more because of the alignment of the stars if he wishes..
He then presents a number to a potential renter who says one of two things, either "Fine" or "No thanks."

crescent22 · 03-30-2013, 07:13 AM

But that's not the given

The given is they want to pass through some condo fees.

So I guess the answer is (if you want the place) make another bid and factor in the fee.

cully · 03-30-2013, 07:15 AM

At first I thought the broker fee was being split. But you say this fee is annual?

crescent22 · 03-31-2013, 07:17 PM

So the condo fees look like a bunch of one-time application fees but it's $1100 - application, credit check, move-in fee. Owner has her own fees to deal with.

I'm clarifiying if it's one-time, but it still seems high/robbery, no?