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Studio, Upper East Side Rental in NYC for $1,800 - Photo 1
Last 30 min  |  Score: 100
1380 1st Avenue, Apt 2G
Upper East Side, Upper Manhattan, Manhattan
$1,800
|
Studio
|
1 Bath
By Alexandra Grainger
Featured
No Fee
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Studio, Chelsea Rental in NYC for $1,800 - Photo 1
Last hour  |  Score: 100
310 West 20th Street, Apt D9
Chelsea, Midtown Manhattan, Manhattan
$1,800
|
Studio
|
1 Bath
By Eric Storch, Chelsea Expert
Featured
No Fee
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3 Bedrooms, Stuyvesant Town - Peter Cooper Village Rental in NYC for $5,152 - Photo 1
1 hour ago  |  Score: 100
271 Avenue C, Apt 09C
Stuyvesant Town - Peter Cooper Village, Midtown Manhattan, Manhattan
$5,152
|
3 Bed
|
1 Bath
By Stuytown Leasing Team
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No Fee
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Studio, Prospect Heights Rental in NYC for $2,700 - Photo 1
Last 30 min  |  Score: 100
Pacific Street
Prospect Heights, Northwestern Brooklyn, Brooklyn
$2,700
|
Studio
|
1 Bath
By Charles Russell Narwold
Featured
No Fee
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1 Bedroom, Clinton Hill Rental in NYC for $3,790 - Photo 1
Last 30 min  |  Score: 100
Clermont Avenue
Clinton Hill, Northwestern Brooklyn, Brooklyn
$3,790
|
1 Bed
|
1 Bath
By Charles Narwold
Featured
No Fee
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Studio, Murray Hill Rental in NYC for $2,637 - Photo 1
Last hour  |  Score: 100
E 36th St
Murray Hill, Midtown Manhattan, Manhattan
$2,637
|
Studio
|
1 Bath
By Andre Bourne, Murray Hill Expert
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No Fee
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2 Bedrooms, Forest Hills Rental in NYC for $3,140 - Photo 1
Last hour  |  Score: 100
104-20 Queens Boulevard, Apt 2...
Forest Hills, Northwestern Queens, Queens
$3,140
|
2 Bed
|
1 Bath
By Aljon Bushati
No Fee
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1 Bedroom, Battery Park City Rental in NYC for $4,250 - Photo 1
Last hour  |  Score: 100
50 Battery Place, Apt APT 6K
Battery Park City, Downtown Manhattan, Manhattan
$4,250
|
1 Bed
|
1 Bath
By Andy Ender Arkun
No Fee
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1 Bedroom, Central Harlem Rental in NYC for $2,295 - Photo 1
Last 30 min  |  Score: 100
60 West 142nd Street, Apt 10S
Central Harlem, Upper Manhattan, Manhattan
$2,295
|
1 Bed
|
1 Bath
By Brad Baron, Central Harlem Expert
No Fee
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1 Bedroom, Long Island City Rental in NYC for $3,420 - Photo 1
Last 30 min  |  Score: 100
42-20 24th Street, Apt 26K
Long Island City, Northwestern Queens, Queens
$3,420
|
1 Bed
|
1 Bath
By Sid Bhatia
No Fee
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2 Bedrooms, Central Harlem Rental in NYC for $2,695 - Photo 1
Last 30 min  |  Score: 100
2300 5th Avenue, Apt 7E
Central Harlem, Upper Manhattan, Manhattan
$2,695
|
2 Bed
|
1.5 Bath
By Brad Baron, Central Harlem Expert
No Fee
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4 Bedrooms, Upper East Side Rental in NYC for $5,683 - Photo 1
5 hours ago  |  Score: 100
244 East 78th Street, Apt 1D
Upper East Side, Upper Manhattan, Manhattan
$5,683
|
4 Bed
|
2 Bath
By Charles Munroe, Upper East Side Expert
Featured
No Fee
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1 Bedroom, Downtown Brooklyn Rental in NYC for $3,650 - Photo 1
1 hour ago  |  Score: 100
Schermerhorn Street
Downtown Brooklyn, Northwestern Brooklyn, Brooklyn
$3,650
|
1 Bed
|
1 Bath
By Constantine Fourtounis
Featured
No Fee
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1 Bedroom, Stuyvesant Town - Peter Cooper Village Rental in NYC for $3,772 - Photo 1
2 hours ago  |  Score: 100
321 Avenue C, Apt 05E
Stuyvesant Town - Peter Cooper Village, Midtown Manhattan, Manhattan
$3,772
|
1 Bed
|
1 Bath
By Stuytown Leasing Team
Featured
No Fee
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2 Bedrooms, Bedford-Stuyvesant Rental in NYC for $2,500 - Photo 1
Last hour  |  Score: 100
355 Stockton Street, Apt 3
Bedford-Stuyvesant, Northern Brooklyn, Brooklyn
$2,500
|
2 Bed
|
1 Bath
By Amadeo Pasquale
No Fee
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2 Bedrooms, Hamilton Heights Rental in NYC for $2,502 - Photo 1
Last 30 min  |  Score: 100
Broadway
Hamilton Heights, West Harlem, Upper Manhattan, Manhattan
$2,502
|
2 Bed
|
1 Bath
By Don Carlos
No Fee
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1 Bedroom, Upper East Side Rental in NYC for $3,700 - Photo 1
Last hour  |  Score: 100
East 63rd St
Upper East Side, Upper Manhattan, Manhattan
$3,700
|
1 Bed / Flex 2
|
1 Bath
By Miguel Ubinas
Featured
No Fee
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4 Bedrooms, Lower East Side Rental in NYC for $6,500 - Photo 1
4 hours ago  |  Score: 100
53 Pitt Street, Apt #1B
Lower East Side, Downtown Manhattan, Manhattan
$6,500
|
4 Bed / Flex 5
|
2 Bath
By Ralph Safdie
Featured
No Fee
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3 Bedrooms, Vinegar Hill Rental in NYC for $4,700 - Photo 1
4 hours ago  |  Score: 100
189 York Street, Apt 3
Vinegar Hill, Northwestern Brooklyn, Brooklyn
$4,700
|
3 Bed
|
2 Bath
By Ralph Safdie
Featured
No Fee
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1 Bedroom, Long Island City Rental in NYC for $3,200 - Photo 1
1 hour ago  |  Score: 100
43rd Ave & 23rd St
Long Island City, Northwestern Queens, Queens
$3,200
|
1 Bed
|
1 Bath
By Sophia Lee, Long Island City Expert
Featured
No Fee
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« Back Page 2 / 584 Next »

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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