"No Fee" but $1,000 "LL Processing Fee"

"$1,000 LANDLORD PROCESSING FEE" for the party who is chosen or for anyone who decides to apply? If the latter is true then Dear God, I hope it backfires. Can you imagine? Wait until spring when the new potentials arrive after college graduation and find this latest procedure (for lack of better decription).

it stated right in the ad. I see no problem with this at all.

that's what management companies charge to review a board package, so why not fleece the renter?

I present to you the $1K college application.......... It's stated right there... I see no problem at all...

The $500 public bathroom visit.. .it's the only toilet here in the middle of central park and it looks like your kid can't wait the 20 block walk... hand it over you fking tourist.

My wife will only think about treating your kid's cancer if you give me $3K in cash for the visit.. oh she's talking to 20 of the regional cancer docs to do the same... so if you wanna avoid the fee you're gonna have to drive to JERSEY.

"you say you are on a life raft 300 miles off NC.... may we have a credit card to run the $300K rescue fee?... sorry we don't take Amex."

MR17_5.... it said there may be lead in your kid's toy.. STFU and how do I KNOW your kid wasn't retarded bf he ate the paint off of superman?

I present to you the $5K job application fee......

I present to you the $7K modeling headshot.....

I present to you the casting couch for your 18yo daughter....

Is this on approval or actually for anyone to even apply?

I present to you the $5K Porsche test DRIVE.....

I present to you the $10 lottery ticket with ZERO chance of winning....

I present to you the rigged roulette table...

dont blame landlords on this one, blame the large mgmt companies. I wonder what it really costs them to do this?

MR_175, You have n probem with people posting ads as "no fee" when there is a $1000 fee?

MB_11218, This is a not a condo, its a rental building. No 'package'.

gcondo, no one is blaming the LLs on this one, or the mgmt company. I am trying to call out the broker for calling a cat a dog.

MAV: Agree. What the heck is the landlord "processing"?
A credit report? Looking at a couple of months of bank statements and last year's taxes?

It took my landlord 15 minutes. No fee for "processing".He self-manages his buildings.
If he had a management company he would be paying them a yearly fee to do those things along with managing the building.

Send the broker an email & tell him his cat's a dog. Also "cc" the president of the company.

"dont blame landlords on this one, blame the large mgmt companies. I wonder what it really costs them to do this?"

Probably the same it costs a lawyer to read a standard contract on your behalf for $1600.

MAV is right. This should be NO FEE (other than de minmis ones), $1,000.00 is a substantial fee.

its not a broker fee chief

Huge potential for it to be a scam. Price an apartment at or even below market rent. Lots of people think they are getting deal. You get 5-6 applications a month. That is even better than renting the place.

Don't call me Chief... call me Obama Sin Bidet Oberneider.... I am the long lost son of the ruler of Sudan and in order to access my $50MM in untraceable US Treasury notes you must send me $10K to free me from this jail in Syria.

As soon as I am free I will contact my rebel leader in the Congo to gain access to my money... His name is Kony. Spelled K... O... N....Y.....

You better send me my $10K soon as I have a feeling Kony will not live to see 2013.

ALLLLLLaaaaahhhhhhhhhhhhhh.... I come for my vajazzled 64 virgins.....

I also think this is a scam. I remember going to look at apt advertised in NYT (pre streeteasy days). I went towards end of day and the two reps (shady looking) said that I needed to fill out application for this unit and give them $50 fee. It looked like they had 25 or more of these (with checks) already submitted. So it was a $50 admission just to apply for the opportunity to sign lease. These guys should all be shot.

Looks like he has removed it now.

new2RE, A $50 application fee is standard, and actually on the lower side of what I have seen. Back in the old days, before the 'net and when there were still deals of RS apts around, the most common way to score a RS apt was to go to an open house like you discribed and hope fot the best. One person would get picked, and rest assured, a few of the not picked ones thought it was a scam.

This is taking a $1000 fee, not a $50 fee.

lol..i dont see where in the ad it says $1000 processing fee...FYI most landlords want a tenant who can afford to pay a fee... and your talking prime west vill here...tons of demand to take advantage of.....

haha , the ads totally changed because of this forum. Awesome. now people will find out about the fee further in the game. lordy lordy (this coming from a broker FYI)

.... ps- the only time I've ever seen a proccessing fee like that is for condo-sublets (condo boards love to shake people down... super unfortunate but true).... or for listings whereas the landlord only wants serious prospects applying---to which he will then deduct 1000 off the first months rent once approved. problem is,if you arent approved--- you can kiss that money bye bye.
at any rate, if people will pay it (which they will since it looks like a steal.... seeing as its a "no fee" unit with, what appears to be, decent square footage, light, new finishes, etc...- in WEST VILLAGE, and ONLY 2995 a month), then why would the landlord NOT tag on the fee? It's obvious he's the one who paid the broker's fee.... nows hes just looking for some ROI (return on investment)

new2RE: the $50 application fee pays for the background and credit check. They hang on to everyones application to see who's got the best credit. shitty, but true. In a perfect world, applications would always be a "first come, first serve" basis (first serve to qualified tenants).... i seriously doubt they hold on to 25 applications though... as that could land their asses in court for steering or denying qualified tenants because of race or ethnicity, etc.... then again, they could always make up an excuse.... hmmmm.... what a dirty dirty business this is!

Read my above post, it has been removed now.

FYI, I am a LL and I want higher rent, not a tenant who can pay a fee. You are right though, there is a lot of demand and a lot of people to take advantage of. I do not take advantage of these people, but if I see others doing so I will continue to point them out, even if no one cares or understands.

A landlord is NOT allowed to collect a fee on renting an apartment. This LL would be liable in Housing court-even if it is not a stabilized apartment. The law is clear- only licensed RE agents or leasing agents are allowed to collect fees.

Thanks MAV, the fact that you addressed this is probably why it disappeared from the ad the same day.

seems shady that it was removed, but there are many condos and co-ops who charge fees far in excess of 1000. So it didnt surprise me if there was one. I don't agree with it, its just a way for managements to take advantage of the unit owner trying to rent it out, and in this market they pass the fees onto the tenant.

" its just a way for managements to take advantage of the unit owner trying to rent it out"

No, it is a way for mgmt company to milk a condo --- but does a condo board have authority to enforce the mgmt company's recommendation from this "application process"?

Landlords CAN pay the broker----- Look at TF Cornerstone, Rockrose, Condo-Sublet's (owner is considered "landlord")... "OP" 's are everywhere.

The issue is: does the law distinguish between a broker fee and a processing fee? Also, how is the processing fee justified. As said above, it should be defined as the cost of running a credit check ($15) plus administrative time ( a few minutes by an office worker). I don't think a $1000 processing fee would be justified in a court of law.

Application fee: $50, credit check fee $50, leasing fee $50, kickback $850.00. There's your processing fee.