Why am I being charged a $150 Lease Initiation Fee?

There is a $150 administrative fee charged for all signed leases—including renewals— and the time required to get everything that has changed and updated in the system. The fee is listed in your rental agreement as to the "Lease Initiation Fee" and is defined in the contract as follows:

"The Lease Initiation Fee above shall be paid upon execution of this Agreement and shall be deemed consideration for the institution of this Agreement and is not a deposit."