Rental Rates and Fee Schedule (2021-2022)
Effective July 1, 2021, the rental rates for the fiscal year 2021-2022 reflect a 2% annual increase. No changes to the FY 21-22 fee schedule from previous year.
Fiscal Year Budgeting
July 1, 2021 - June 2022
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, 2021
No changes made to FY 21-22 fee schedule from previous fiscal year, effective July 1, 2020.
Rental Rates 2021-2022
Starting July 2021
Rental Rate Schedule Effective July 1, 2021 - June 30, 2022
| FY 2021-2022 | One Bedroom | Two Bedroom | Three Bedroom |
| Member Rate | $763 | $1016 | $1255 |
| Non-member fee | $50 | $50 | $50 |
| Non-member | $813 | $1066 | $1305 |
Rent Payment Submission
Rent Due on 1st of Month
Reminder that rent is payable 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 $50 late fee.
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.
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.
