In: NYC condominium management
February 2, 2016
Should We Collect A Move In Deposit, Fee Or Both?
Buildings suffer through a lot of wear and tear during move-ins and move-outs. For each move, there are always two sets of people who are coming and going and elevators, common spaces and the building staff are all taxed during this time. In addition, residents are sometimes disturbed as their elevators are either taken out completely or are under limited use while the movers reserve and utilize them during this time period. It’s for this reason that many buildings charge something in order to offset the costs that they are absorbing. These charges can be by way of a deposit, fee or both. Depending on your building, it may be prudent to charge both to protect the asset under your care.