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No Fee Apartments for Rent

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10 Spruce Street, Apt 50
Financial District, Downtown Manhattan, Manhattan
$6,200
Exclusive
No Fee
By Kat, Last hour
1 Bed
|
1 Bath
Check Availability
West 59th Street
Lincoln Square, Upper West Side, Upper Manhattan, Manhattan
$14,667
No Fee
By Dominique Lavoie , 1 hour ago
Lincoln Square Expert
3 Bed
|
3 Bath
Check Availability
West 80th Street
Upper West Side, Upper Manhattan, Manhattan
$15,082
No Fee
By Dominique Lavoie , 1 hour ago
Upper West Side Expert
3 Bed
|
3 Bath
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808 Columbus Avenue, Apt 14J
Manhattan Valley, Upper West Side, Upper Manhattan, Manhattan
$4,505
No Fee
By Owner
By Columbus Square, 2 hours ago
Studio
|
1 Bath
|
424 Sqft
Check Availability
West 31st Street
Koreatown, Midtown South, Midtown Manhattan, Manhattan
$4,650
No Fee
By Tal Eshel, Last hour
1 Bed
|
1 Bath
Check Availability
408 West 22nd Street
West Chelsea, Chelsea, Midtown Manhattan, Manhattan
$4,025
Exclusive
No Fee
By Owner
By June, 1 hour ago
Studio
|
1 Bath
|
49 Sqft
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10 Hanover Square, Apt 16S
Financial District, Downtown Manhattan, Manhattan
$3,847
No Fee
By Owner
By 10 Hanover Square, 2 hours ago
Studio
|
1 Bath
|
556 Sqft
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635 West 42nd Street, Apt 16K
Hell's Kitchen, Midtown Manhattan, Manhattan
$4,250
No Fee
By Brody Lluis, 2 hours ago
1 Bed
|
1 Bath
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West End Avenue, New York, NY...
Upper West Side, Upper Manhattan, Manhattan
$6,395
No Fee
By Alexandra Skiba, 2 hours ago
Upper West Side Expert
2 Bed
|
2 Bath
|
968 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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125 West 126th Street, Apt B
Central Harlem, Harlem, Upper Manhattan, Manhattan
$2,600
No Fee
By Ian Matheson, 5 hours ago
1 Bed
|
1 Bath
|
855 Sqft
Check Availability
808 Columbus Avenue, Apt 25K
Manhattan Valley, Upper West Side, Upper Manhattan, Manhattan
$5,030
No Fee
By Owner
By Columbus Square, 2 hours ago
Studio
|
1 Bath
|
412 Sqft
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354 East 78th Street
Upper East Side, Upper Manhattan, Manhattan
$3,600
Exclusive
No Fee
By Owner
By June, 1 hour ago
Upper East Side Expert
1 Bed
|
1 Bath
|
110 Sqft
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West 34th Street
Koreatown, Midtown South, Midtown Manhattan, Manhattan
$3,400
No Fee
By Justin Shin, 2 hours ago
Studio
|
1 Bath
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180 Meserole Street, Apt 3
East Williamsburg, Williamsburg, Northern Brooklyn, Brooklyn
$3,200
Exclusive
No Fee
By Zalman Simpson, Last 30 min
East Williamsburg Expert
2 Bed
|
1 Bath
Check Availability
2337 Bedford Avenue, Apt 2A
Flatbush, Central Brooklyn, Brooklyn
$3,400
No Fee
By Karin, 3 hours ago
3 Bed
|
2 Bath
|
1,000 Sqft
Check Availability
William Street
Financial District, Downtown Manhattan, Manhattan
$6,388
No Fee
By Chimere Meerschman, 2 hours ago
Financial District Expert
2 Bed
|
2 Bath
Check Availability
53 Leroy Street, Apt 1D
West Village, Downtown Manhattan, Manhattan
$9,750
No Fee
By Amanda Vargas, 3 hours ago
4 Bed
|
2 Bath
Check Availability
95 Wall Street, Apt 1819
Financial District, Downtown Manhattan, Manhattan
$3,548
No Fee
By Owner
By 95 Wall, 2 hours ago
Studio
|
1 Bath
|
616 Sqft
Check Availability
279 East 10th Street, Apt 1
East Village, Downtown Manhattan, Manhattan
$3,795
No Fee
By Frank Kaplan, 1 hour ago
1 Bed
|
1 Bath
Check Availability
116 John Street, Apt 2003
Financial District, Downtown Manhattan, Manhattan
$5,867
Exclusive
By Tisha Logan, 6 hours ago
1 Bed / Flex 3
|
1 Bath
Check Availability
John Street
Financial District, Downtown Manhattan, Manhattan
$5,745
By Sharon Priya Banta, 3 days ago
1 Bed / Flex 3
|
2 Bath
Check Availability
« Back Page 2 / 332 Next »
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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