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No Fee Apartments for Rent

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123 Linden Boulevard, Apt 12S
Flatbush, Central Brooklyn, Brooklyn
$2,699
Exclusive
No Fee
By David Quigua, Last 30 min
Studio
|
1 Bath
Check Availability
515 9th Avenue, Apt 6M
Hudson Yards, Midtown Manhattan, Manhattan
$5,500
Exclusive
No Fee
By Amanda , Last 30 min
1 Bed / Flex 2
|
1 Bath
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808 Columbus Avenue, Apt 09P
Manhattan Valley, Upper West Side, Upper Manhattan, Manhattan
$3,947
No Fee
By Owner
By Columbus Square, 2 hours ago
Studio
|
1 Bath
|
424 Sqft
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95 Wall Street, Apt 516
Financial District, Downtown Manhattan, Manhattan
$3,502
No Fee
By Owner
By 95 Wall, 2 hours ago
Studio
|
1 Bath
|
487 Sqft
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West 52nd Street
Hell's Kitchen, Midtown Manhattan, Manhattan
$4,295
No Fee
By Tal Eshel, Last hour
Hell's Kitchen Expert
1 Bed
|
1 Bath
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West 31st Street
Koreatown, Midtown South, Midtown Manhattan, Manhattan
$4,650
No Fee
By Tal Eshel, Last hour
1 Bed
|
1 Bath
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400 West 61st Street
Lincoln Square, Upper West Side, Upper Manhattan, Manhattan
$14,620
No Fee
By Fred Sabzevari, Last 30 min
3 Bed
|
2 Bath
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60 Pulaski Street, Apt PENTHOU...
Bedford-Stuyvesant, Northern Brooklyn, Brooklyn
$4,950
No Fee
By Naratchira Ryan K., Last 30 min
3 Bed
|
2 Bath
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2401 3rd Avenue, Apt 90
Mott Haven, West Bronx, Manhattan
$3,325
No Fee
By TOM SMITH, Last 30 min
1 Bed
|
1 Bath
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515 9th Avenue, Apt 9F
Hudson Yards, Midtown Manhattan, Manhattan
$8,995
Exclusive
No Fee
By Lyndsey Casagrande, Last 30 min
3 Bed
|
3 Bath
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E 13th St.
East Village, Downtown Manhattan, Manhattan
$4,995
No Fee
By Yousaf Rehman, Last 30 min
2 Bed
|
1 Bath
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534 East 14th Street
Alphabet City, East Village, Downtown Manhattan, Manhattan
$2,925
Exclusive
No Fee
By Owner
By June, 1 hour ago
Alphabet City Expert
Studio
|
1 Bath
|
144 Sqft
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53 Leroy Street, Apt 1D
West Village, Downtown Manhattan, Manhattan
$9,750
No Fee
By Amanda Vargas, 1 hour ago
4 Bed
|
2 Bath
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401 E 34th St, Apt S24A
Murray Hill, Midtown Manhattan, Manhattan
$8,464
No Fee
By Owner
By View 34, 2 hours ago
2 Bed
|
2 Bath
|
1,343 Sqft
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East 38th street
Murray Hill, Midtown Manhattan, Manhattan
$3,750
No Fee
By Ahmed Elghandour, Last hour
1 Bed
|
1 Bath
|
650 Sqft
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East 54th Street
Sutton Place, Midtown East, Midtown Manhattan, Manhattan
$3,414
No Fee
By RANWA BAHIT, Last hour
Studio
|
1 Bath
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561 4th Avenue, Apt 2B
South Slope, Park Slope, South Brooklyn, Brooklyn
$5,000
No Fee
By Prashant Babu, Last 30 min
3 Bed
|
2 Bath
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515 West 36th Street, Apt 32B
Hudson Yards, Midtown Manhattan, Manhattan
$7,517
No Fee
By Alex Antigua, Last 30 min
2 Bed
|
2 Bath
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225 West 28th Street, Apt #14D...
Chelsea, Midtown Manhattan, Manhattan
$12,923
No Fee
By Brody Lluis, Last hour
2 Bed
|
2 Bath
Check Availability
10 Hanover Square, Apt 06S
Financial District, Downtown Manhattan, Manhattan
$3,997
Exclusive
No Fee
By 10 Hanover Leasing Team, 2 hours ago
Studio
|
1 Bath
Check Availability
123 Linden Boulevard, Apt 5M
Flatbush, Central Brooklyn, Brooklyn
$2,699
Exclusive
No Fee
By Aida Acosta, 7 hours ago
Studio
|
1 Bath
Check Availability
Clarkson Avenue
Flatbush, Central Brooklyn, Brooklyn
$2,404
By Krystina Acevedo, 4 days ago
Studio
|
1 Bath
|
600 Sqft
Check Availability
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No Fee

The term "No-Fee apartments" is extremely confusing to most renters, even veterans who have lived in NYC most of their lives. A big source of the misunderstanding stems from two different types of apartments that one might advertise as having no broker fee. In the first case, a listing posted directly by the landlord generally has no fee, but ONLY if the renter finds the apartment and contacts the landlord without any assistance from a licensed real estate broker. In the second case, a…

No Fee Apartments for Rent

No Fee

The term "No-Fee apartments" is extremely confusing to most renters, even veterans who have lived in NYC most of their lives. A big source of the misunderstanding stems from two different types of apartments that one might advertise as having no broker fee. In the first case, a listing posted directly by the landlord generally has no fee, but ONLY if the renter finds the apartment and contacts the landlord without any assistance from a licensed real estate broker. In the second case, a landlord or property manager can offer to pay broker fees on behalf of the renter, which allows any real estate broker or salesperson to advertise the listing as no fee.

How can the same apartment be both no fee and fee depending on the person advertising or showing me the apartment?

Consumers who don't understand the nyc rental market find this paradox to be one of the most frustrating aspects of the apartment search. It is actually very possible for the same exact apartment to be no fee or fee on the same day, and the difference is who is showing you the apartment. If you are able to see the apartment directly from the landlord, usually through the leasing office, then you probably will not need to pay any additional broker fee. However, if you have a professional, licensed real estate salesperson assisting you in your search, and this agent shows you the same apartment, you are likely obligated to pay a broker fee. You will normally have signed documents agreeing to pay a fee if you rent any of the apartment that agent shows you.

Does that mean I am always better off going directly to the landlord instead of using a broker?

Absolutely not! If the landlord is paying the broker fee, many renters reason they can show up without the broker and instantly negotiate a lower rent. The thinking is, by doing a direct deal, the landlord is saving a few thousand dollars by not paying the fee, and therefore some of that savings should be passed on to the renter. In practice, landlords have more loyalty to their broker partners than to any individual renter. Real estate agents bring the landlords new clients all year long, week after week. Intelligent landlords understand they need to keep the brokers happy, and certainly not allow special deals that would alientate the industry. If a building was known to quote lower prices to direct renters than to brokers, then that same building would very quickly not receive much traffic from agents.

What does 1 Month OP mean for an apartment listing or advertisement?

One month OP means that the landlord is paynig the broker one month of rent after the renter has signed a lease and moved into the apartment. Usually, once an agent shows the apartment to a customer, submits an application, and then confirms lease signing, the agent will send an invoice to the management company with the details of the deal, asking for payment. Most landlords will remit the payment within 30-60 day to the brokerage firm, and the firm will pay the appropriate, agreed-upon commission split to the agent.

Why use brokers at all when no fee apartments exist in NYC?

The founders of RentHop originally pondered this question in 2009, which led to the creation of this website! The original plan, as reported in the NY Times article Getting the Agent Without the Fee, by Michael Grynbaum, was to eliminate the need for apartment brokers entirely. The entire story is best told by Lee Lin, quoted below, in a talk he gave to Startup Institute about his experience at Y Combinator.

When we first started RentHop, we assumed all real estate agents were these evil slimeballs that charged huge fees and barely did anything. We thought we could disrupt the entire industry by creating a website and directly connecting renters with landlords. However, one of the best pieces of advice we received during the summer at Y Combinator came from Paul Graham. He told us that if we really thought brokers were useless, then we should try being brokers for a while. So we did! Lawrence and I both flew back to New York, received our real estate licenses, and spent months meeting clients and showing apartments all day long. I lost a lot of weight, climbing all those walkups and roaming around the streets of Manhattan. That was when we realized being a broker is really hard, and that a great agent adds a ton of value. They save everyone a lot of time, visiting dozens of apartments a week only showing the top ten percent or so to customers. By the end of that year, we completely pivoted the focus of our company to matching qualified renters with the best apartment listings, whether they are posted by a landlord, management company, or broker.

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