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Rental Rates and Fee Schedule

New Fee Schedule effective July 1, 2020. Until the co-op receives the financial determination of the University requirements in June (postponed due to COVID-19), the rental rates will remain the same.

Fiscal Year Budgeting 

July 1, 2020 - June 2021

Our co-op uses the fiscal year (FY) for financial reporting and budgeting, in which we strive to contain key changes - including rental rates and the fee schedule - to become effective at the start of the new fiscal year in July.

Rental rates for the upcoming fiscal year are dependent on the University of Minnesota, the owner of the property, who increasingly require more money from the co-op each year and, thus, from our residents. CTC's Board, Management Team, and Finance Committee then collaborate to update the co-op's fee schedule - a list of applicable fees and fines - in evaluation of current/foreseeable organizational needs, goals, and financial health. 

Fee Schedule

Effective July 1, 2020

Fee Schedule FY 2020-2021

Make note to the following fee changes: Invoice Statement Illustration

Rental Rates 2020-2021

Pending Final University Determination

The financial impacts of COVID-19 have struck far and wide. April is the standard month to announce the upcoming fiscal year rental fee schedule; yet, due to the significance/unforeseen magnitude of COVID-19, the official announcement will be postponed, pending University determination.

The University confirmed to hold their requirement rates for July and August at the current FY 2019-2020 rate, providing official determination for the remainder of the year after the UMN Board of Regents meeting in mid-June. CTC will provide residents with 60-day notice of the FY 2020-2021 rental rates once the University confirms their financial requirement in June.

Rental Rates 2019-2020

extended through August 2020

Rental Rate Schedule Effective July 1, 2019 - June 30, 2020

FY 2019-2020 One Bedroom Two Bedroom Three Bedroom
Member Rate $748 $996 $1230
Non-member fee $50 $50 $50
Non-member $798 $1046 $1280

Rent Payment Submission

COVID-19 Update

Accepted methods remain RentCafe (online), BillPay, and personal/cashier’s checks. Without our accountant on site every day, 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.

Community Center External Drop Box

Check Deposits

Place check deposits in the external drop box of the Community Center, as the building will be closed. The external drop box is located on the west side of the Community Center, which faces the playground in Ward 9. VIEW MAP.

< If moving out during the remote operations interim, please return all unit keys to the external drop box before midnight on your vacate date.