Your Guide to Finding a No Fee Apartment in New York City
Thanks for stopping by our site, New York No Fee Apartments. On it you’ll find lists of buildings and landlords that you can contact directly, in order to rent your New York apartment with no fee. We hope you’ll find our site useful in your apartment search.
What is a no fee apartment? Simple, it’s an apartment where the tenant does not have to pay a fee to a broker to rent it. Many of you from outside of NYC are probably wondering why anyone would pay a broker fee on a rental apartment. But the NYC rental market has operated differently for decades.
Unlike much of the country, in New York City tenants have traditionally used a broker to rent the majority of available apartments. Why? Because most landlords in the past did not often advertise their vacancies to the general public. They gave their list to brokers and let them do the work of marketing the rentals. This does happen, to a smaller degree, in other cities as well.
However, the other difference in NYC is that the tenant is (usually) the one who pays the broker their fee, or commission, NOT the landlord. How much is that fee, you ask? Well, it varies anywhere from 1 month’s rent, up to 15% of your annual rent. That can be thousands of dollars. Ouch!
So, do I need to use a broker to rent an apartment in New York City? A good broker can be worth the money you spend–if you can afford it, and if you find a good broker. Sometimes a broker will list a no fee apartment, which means the landlord is paying the broker instead of you, as an incentive. Happy dance! The reality, however, is that the NYC rental market is usually very tight, so most landlords do not offer to pay the fee.
The good news is, these days many (but not all, by any means) landlords make their listings available to the public. So why not start your search by first speaking to landlords, and see if you can rent a no fee apartment in New York? To help you, on these pages we will list numerous buildings and landlords that you can call directly to inquire about their no fee apartments. What do you have to lose–other than a few thousand dollars in broker fees?
Good luck, and happy apartment hunting from your friends at New York No Fee Apartments!