How Much Is The Fee To Rent Out Your Condo?

Mary Bakija -


If you live in a condo in the area, what is the fee to sublet your space? And has it ever been increased — if so, by how much?

A South Slope neighbor tells us that her local condo board recently raised the fee to sublet from $150 per month to $500 per month, in a 30-unit building where 4 units are currently being rented, and she feels that’s a bit outrageous.

“The building sees us a source of revenue as they are currently low on funds and have chosen to charge the landlords instead of raising funds from all the owners,” she writes.

She also believes that condo boards justify high fees to keep the owner-occupied rates high, because banks may not approve loans on spaces where it’s not so substantial.

“For a condo, I don’t think we’re anywhere near that threshold,” she adds.

In a piece on the topic in the Daily News last year, a property manager, an attorney, and a real estate agent all said it was unusual for fees to be very high, if there are any at all, but that they were becoming more common in condos. A year has passed, so is it even more common, and at a higher rate, now?

If you live in a condo, what’s the fee like, if there even is one?

[poll id=”61″]