Rental Rates and Fee Schedule (2024-2025)
Fiscal Year Budgeting
July 1, 2024 - June 2025
There comes a point in every organization, for profit or not for profit, where increases are necessary. To keep a property up and running, it must be able to invest in itself. The Board of Directors and management team have worked hard on developing a budget that will keep CTC successful at being the member driven, nonprofit focused organization it has always been. Our fiscal year budget for rental rates and the updated fee schedule reflects this necessity.
The increase in expenses, specifically, the University Requirements increasing 6% and other uncontrollable costs (insurances, taxes, materials, etc.) increased far more than that of the rates of rent, still leaving CTC with a net loss.
It is crucial that CTC’s rental and fee increases line up with the amount of increases in uncontrollable costs. CTC management and the Board of Directors are dedicated to providing well maintained and affordable housing for the co-op residents and strive to continue to maintain lower than market rent and fee rates for our students that live at CTC and are a part of our special community.
CTC understands that with rate increases also comes many questions from those impacted. We will be hosting a Town Hall Meeting to help answer any questions you might have prior to the monthly Board of Directors meeting on May 23rd from 5:30pm – 6:30pm in the Community Room located at 1250 Fifield Ave.
Fee Schedule
Effective July 1, 2024 - June 30, 2025
Rental Rates 2024-2025
Effective July 1, 2024 - June 30, 2025
1. Rate Structure for Current Residents
Effective for households whose leases were effective prior to July 1, 2024
FY 2024-2025 |
One Bedroom | Two Bedroom | Three Bedroom | ||
| Lower Level | Upper Level | Split Level | Phase IV | Phase IV | |
| Member Rate | $868 | $868 | $1169 | $1173 | $1449 |
| Non-member Fee | $55 | $55 | $55 | $55 | $55 |
| Non-member | $923 | $923 | $1224 | $1228 | $1504 |
2. Rate Structure for New Residents
Effective for households with leases starting on or after July 1, 2024
FY 2024-2025 |
One Bedroom | Two Bedroom | Three Bedroom | ||
| Lower Level | Upper Level | Split Level | Phase IV | Phase IV | |
| Member Rate | $884 | $900 | $1191 | $1196 | $1476 |
| Non-member Fee | $55 | $55 | $55 | $55 | $55 |
| Non-member | $939 | $955 | $1246 | $1251 | $1531 |
Payment Reminders
Co-op Membership Status
Residents can become a member anytime while living at CTC. To join, contact the office and submit the one-time joining fee to initiate the membership to your household.
Rent Payment Reminders
Add Monthly Charges or Outstanding Fees
Your monthly amount due includes your unit’s rental rate, as well as any other additional charges, such as an additional vehicle, or an extra appliance (including air conditioners), long-term visitors, or other outstanding fees. View your balance and payment history via your RentCafe account, otherwise contact the office if you need assistance determining the accurate amount.
Rent Due on 1st of Month
Rent is due to CTC's office on the first day of the month. Rent payments made after the fifth day of the month are subject to a late fee. An automatic late fee charge and email notification on the 10th of each month informing you of a late fee charge or past due balance on your account. If you find any errors, please contact CTC's office.
Deposits + Statements
- Please allow 2-3 business days for the withdrawal to appear in your bank account, as well as the payment to be reflected in your RentCafe ledger if not submitted through RentCafe.
- Write or make sure your address is on the check (if paying by check).
- If paying not for an account printed, please note specifications in memo
- View balance and payment history (RentCafe login > Payments)
Payment Method Options
Provide a Check to CTC Office
- Free
- We accept personal checks, money orders, and cashier’s checks
- Two drop-boxes available for deposit: one inside the Community Center on CTC’s Office window; one outside on the northwest exterior of the Community Center facing the Ward 9 playground, which is available 24 hours/7 days a week.
- Pay online via RentCafe
- Starting at $0, fees apply depending on transaction form and amount. Detailed list of payment fees.
- Select recurring or one-time payment
- Guide to make an online payment
- Use BillPay via Personal Bank
- Free for standard transactions
- Select recurring or one-time payment
- BillPay will print and mail checks from your bank to CTC for you
- How Do I Set Up Online Bill Pay?
- Remember to assign the mailing date at least 10 days in advance to the first to ensure the check arrives before the fifth of the month, accounting for any holidays or weekends
- Mail check to CTC at 1250 Fifield Ave, Falcon Heights, MN 55108. No account number from CTC is necessary; this field indicates the name you wish to designate for your own personal records.
