Purchase application fees

1. A personal check in the amount of $500 (per applicant) for the processing fee, payable to ABC Management Corp.
2. A personal check in the amount of $50 (per applicant) for each credit check, payable to ABC Management Corp.
3. A certified check in the amount of $500, representing a refundable move-in deposit, payable to Chatham in Chelsea. Please note that the move-in deposit will be returned after the completion of the move, less the cost to repair any damage to the building.
4. A certified check in the amount of $1,000, representing a non-refundable move-in fee, payable to Chatham in Chelsea. 
5. A certified check in the amount of $500 from the seller, representing a refundable move-out deposit, payable to Chatham in Chelsea. You, as purchaser, must obtain this from the seller and include it in this package. Please note that the move-out deposit will be returned after the completion of the move, less the cost to repair any damage to the building.

Lease application fees

1. A personal check in the amount of $500 (per applicant) for the processing fee, payable to ABC Management Corp.
2. A personal check in the amount of $50 (per applicant) for each credit check, payable to ABC Management Corp.
3. A certified check in the amount of $500, representing a refundable move-in/move-out deposit, payable to Chatham in Chelsea. Please note that this deposit will be returned upon expiration of the lease and completion of the move-out, less the cost to repair any damage to the building.
4. A certified check in the amount of $1,000, representing a non-refundable move-in fee, payable to Chatham in Chelsea.
5. A certified check in the amount of $500 dollars from the Unit Owner, representing a refundable move-out deposit, payable to Chatham in Chelsea. You, as the lessee, must obtain this from the Unit Owner and include it in this package. Please note that the move-out deposit will be returned after the completion of the move, less the cost to repair any damage to the building.

Notice for Unit Owner: All common charges must be paid up-to-date before approval will be granted. Leases for residential units must be written for a term of not less than six months in order to prevent hotel-like situations.

There is a charge of 20 percent of your annual common charges for the right to sublet. This will be billed on a monthly basis once the sublease commences. Short-term rentals by the Unit Owner or lessee are strictly forbidden (i.e., Airbnb, HomeAway, etc.) and violators will be fined substantially.

Management company fee schedule and services

These fees regarding the sale, refinancing and rental of apartments apply only to Unit Owners:

Sale of unit: $500
Refinancing of unit: $500
Rental of unit: $500

The services provided by ABC Realty in return for these fees are:

Sale of unit

  • Accept applications, certified checks and all required financial and personal documentation from all prospective Unit Owners. 
  • Prepare the following closing documents: certificate of right of first refusal, certificate of insurance, estoppel letter, residential unit power-of-attorney, and other instruments as may be required. 
  • Coordinate the settlement of any outstanding fees with the management company's accounting department. 
  • Bill and collect move-in deposit from prospective Unit Owners. 
  • Schedule and coordinate closing with all relevant parties involved at offices of the management company.
  • Maintain accurate records of anniversary dates of deposits (if any) to be refunded.

Refinancing of unit

  • Accept application, commitment letter and recognition agreement along with required financial documentation.
  • Comply with lending institution rules regarding certification forms, insurance forms and financial status of corporation.
  • Obtain credit report of Unit Owner of record.
  • Coordinate with the management company's accounting department as to any outstanding fees to be collected on the unit prior to closing. 
  • Prepare all documents, including estoppel letter and insurance certification, and forward these to Unit Owner to be presented at closing.

Rental of unit

  • Accept applications, all certified checks and all required financial and personal documentation from prospective tenant(s). 
  • Coordinate with the management company's accounting department as to any outstanding fees to be collected on the unit prior to processing renter's application. 
  • Review lease and ensure that it includes the Chatham in Chelsea standard rider. This rider requires written evidence of renter’s insurance and acknowledgement that tenant(s) have read and will abide by all by-laws and rules of the condominium.
  • Obtain credit reports, housing reports and references of prospective tenant(s). 
  • Forward all financial and personal documentation to Board of Managers. 
  • Bill and collect move-in deposit from prospective tenant(s). 
  • Schedule move-in date and time. 
  • Maintain accurate records of move-in deposits to be refunded.

Alteration fees

If you are planning to do renovations on your apartment which require an Alteration Agreement you will be required to submit the following fees along with the agreement. Please see Renovations.

1. A personal check in the amount of $250 for the processing fee, payable to ABC Management Corp.
2. A certified check in the amount of $1,000 dollars, representing a refundable security deposit, payable to Chatham in Chelsea. Please note that the deposit will be returned after the completion of the work, less the cost to repair any damage to the building.