What are some of the explanations you give for transfer fee when it is still charged at end of lease?

What are some of the explanations you give for transfer fee when it is still charged at end of lease?

I guess “because I said so” wouldn’t be professional lol sorry, needed the laugh.

Well, what is the reason your company is charging it ? If there is no reason perhaps it needs to be reconsidered.

No explanation....if it's end of lease, and therefore meeting the budgeted expiration period, there should be no transfer fee as contract is fullfilled and a loyal resident retained. Period.

It’s the end of the lease so we don’t charge as FL leases are not considered renewals.

I’ve never billed a transfer fee at the end of the lease. If they want/need a different apartment, you transfer them or lose them.

Just be extremely transparent. “Your lease has been fulfilled and you could move anywhere you want. Out of shear audacity and copious hubris we are rewarding your loyalty by charging you a completely arbitrary and capricious fee.”
It helps immensely to use all those fancy words to articulate the point that you hoped they were ignorant enough as to not see the obviousness of the offensive money grab not grasp how little you value them.

The cost associated with getting 2 apartments ready and not requiring a rescreening new admin or new deposit as the deposit transfers over. They usually go with the flow especially if they don’t want another hit to their credit.

The cost of getting a new unit ready plus getting their old unit rentable again costs money! Its the truth and that’s what I tell them. We have transfer fees for mid and end of lease transfers.

Darla Hedges you are correct. Transfer cost along of $. I tell them the same, the truth. If you don't charge fees people act like it's a hotel. I don't want to lose residents but I'm not afraid of losing residents.

Chris Palomo .. even though we do have those transfer fees, there are a lot more perks to living here then what most other places have.  We are privately owned, and as of this month no late fees as of Friday, September 8 at 10 AM. Latest I have extended late fees was the 10th of the month. Always used to be the fifth of every month until Covid, and then  it was a different situation. Like giving everybody the opportunity to pay without late fees as much as I can.

So if they move to another company they don't have to pay the fee... and when you fill that same unit and ****DON'T**** charge the new tenant a fee. You still have the costs to turn. Only difference is that you are trying to pass along a cost to your existing resident purely because they are demonstrating loyalty??
I'm sorry but that is so transparently obvious to anyone but the most simple of residents. It's a tax on loyalty nothing more. Their lease is up they aren't obligated to the property any longer why on earth would you punish them for choosing your property again rather than bolting to someone that will actually value them?

This shouldn't even be a thing. Full move out, brand new application and qualification for new unit. This is why people hate us, this nickel and dime garbage.

If it’s at the end of a lease I won’t charge a transfer fee. I did just approve a transfer with the fee but gave the concession on the new unit. I felt like the $750 was worth it to break the current contract to get occupancy on a stale unit and a higher rent.

I don’t give an explanation other than, It’s the fee that we charge to transfer.

Yes, I have had this conversation countless times. All I ever say… “Go the auto dealership and ask them to give you a new car without paying a penny…” “When you come back with a new set of wheels that cost nothing more, I’ll gladly transfer you for free…”
I don’t believe in gouging existing customers, I pass through the expenses. Prepping new unit, decommissioning the old unit, etc… I want them to stay…

We stopped charging transfer fees if they are within their 60 day notice period. The reality is they can give notice, requalify and move without that fee. We require them to requalify and pay a new deposit.

Because they would have been charged for the turn if they moved off the community as well. It’s a new apartment all together so they must pay the charges you would have normally paid as part of the move.

This is why the government is talking about legislation for excessive rental fees. There has to be some common sense.
You are going to pay to have units turned regardless of who moves in or out. A resident transferring on site saves you money on marketing costs and presumably they pay their rent on time. Better than needing to find 2 new applicants.

A transfer fee should only be charged if the resident is transferring prior to the end of the lease contract. The fee is charged to offset the cost of getting the apartment ready to be re-leased; however, if a resident has completed the length and financial terms of the lease contract, they are free and clear to move at the end of the contract. If the resident chooses to lease another apartment at the same community, the resident should fill out a new application, pay the required deposits and fees associated with renting the new apartment, and they should be re-screened to insure that they continue to meet your company's financial and background requirements for the new apartment.

Robert Hoop it all depends on the amount of the transfer fee. Our transfer fees at the end of the lease are typically less than the fees a new resident pays. I have made them higher on properties with excessive transfers.

Mid-lease, it's in place of the early termination fee for the contract they agreed to, and significantly less. End of lease (or writing 30 days of), no fee.

We charge transfer fees at end of lease term. The benefit for our process is that they do not have to pay new app and admin fees as they would still need to apply and qualify for the apartment they want to transfer too. We also find many transfers, whether at the end of the lease or not, fail to give proper notice requirements per their lease (60 days) and as long as it is a reasonable notice (minimum 30 days) we typically waive that fee. I don’t know what your transfer fee is but for us it is nominal considering the benefits. We charge 1/2 the cost of the transfer fee if at end of lease and full transfer fee if breaking the lease.

If I currently live in my apartment and want to transfer to a bigger unit. My apartments are charging a transfer fee of $750. They stated I have to e approved for unit. If not approved they keep my deposit is that legal