What Is the Average Condo Board Package Fee?
Nov 12, 2023
Virtually all condo buildings charge buyers an application fee between $300 to $1,000.
Buildings usually ask for a move-in fee and/or a move-in deposit as well as a move-out fee
and/or a move-out deposit from the seller. The typical move-in or move-out fee is ~$500,
while the average deposit is between $500 to $2,000.
Unfortunately, there is steep inflationary pressure on condo board package application fees in
NYC. This is because most of the fees are set by the managing agents hired by buildings to
oversee day-to-day operations. Managing agents use the condo board package as an
opportunity to charge exorbitant fees, since most owners don’t realize or care that that the fee
for new buyers is so high.