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No Fee Apartments for Rent

Upcoming Open Houses
Sun, Apr 21 12:00pm - 1:00pm
$2,550
1BR at 412 W 49th St
Sun, Apr 21 12:00pm - 1:00pm
$3,300
2BR at 412 W 49th St
Sun, Apr 21 12:00pm - 2:00pm
$2,895
Studio at 15 Cliff Street
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20 mins  |  Score: 100
14 street
East Village, Downtown Manhattan, Manhattan
$4,000 3 Bed 1 Bath
By Eleonora (Elle) Nikolova
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No Fee
  1,000 ft² · Elevator
1 hour  |  Score: 100
328 W 47th St, Apt 2B
Hell's Kitchen, Midtown Manhattan, Manhattan
$2,575 1 Bed 1 Bath
By Randall Smith
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No Fee
 
Exclusive
 
49 mins  |  Score: 100
John Street
Financial District, Downtown Manhattan, Manhattan
$4,700 1 Bed 2 Bath
Suzanne Remy Colton, Financial District Expert
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No Fee
  Doorman · Elevator
1 hour  |  Score: 100
50 Battery Pl, Apt 5A
Battery Park City, Downtown Manhattan, Manhattan
$3,100 Studio 1 Bath
By Robin Iselin
Open House:  Sat, Apr 27, 12:00pm - 3:00pm
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No Fee
 
Exclusive
 
By Owner
  Doorman · Elevator
1 hour  |  Score: 100
3rd Avenue
Rose Hill, Kips Bay, Midtown Manhattan, Manhattan
$3,185 1 Bed 1 Bath
By Nir Yzhari
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No Fee
  Doorman · Elevator · Hardwood Floors
1 hour  |  Score: 100
15 Cliff Street, Apt 02A
Financial District, Downtown Manhattan, Manhattan
$2,895 Studio 1 Bath
By Alex Yoel
Open House:  Sun, Apr 21, 12:00pm - 2:00pm
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No Fee
 
Exclusive
  Doorman · Elevator
39 mins  |  Score: 100
Gold street & Fulton Street
Financial District, Downtown Manhattan, Manhattan
$2,495 Loft 1 Bath
Adis Kolenovic , Financial District Expert
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No Fee
  550 ft² · Doorman · Elevator
1 hour  |  Score: 100
West End Avenue
Upper West Side, Upper Manhattan, Manhattan
$6,500 2 Bed 2 Bath
By David Menashe
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No Fee
  Doorman · Elevator · Laundry in Unit · Hardwood Floors
1 hour  |  Score: 100
East 70's
Upper East Side, Upper Manhattan, Manhattan
$5,190 2 Bed 2 Bath
By Mariana Kiriakova
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No Fee
  Doorman · Elevator · Hardwood Floors
6 mins  |  Score: 100
243 West 115th St
Little Senegal, Central Harlem, Upper Manhattan, Manhattan
$4,000 3 Bed 2 Bath
By jacob knopfler
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No Fee
  Elevator · Laundry in Unit
56 mins  |  Score: 100
37 Wall St, New York, Ny 10005...
Financial District, Downtown Manhattan, Manhattan
$6,095 2 Bed 2 Bath
By Steve Alesi
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No Fee
  Doorman · Elevator
4 hours  |  Score: 100
77 W 104th St, Apt 4/B
Manhattan Valley, Upper West Side, Upper Manhattan, Manhattan
$3,800 3 Bed 1 Bath
By Dominique Seagears
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No Fee
 
Exclusive
  Elevator · Hardwood Floors
15 mins  |  Score: 100
E 22 street
Gramercy Park, Midtown Manhattan, Manhattan
$5,150 2 Bed 2 Bath
Jonathan Hernandez, Gramercy Park Expert
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No Fee
  1,300 ft² · Elevator
1 hour  |  Score: 100
Dekalb Avenue
Fort Greene, Northwestern Brooklyn, Brooklyn
$3,200 1 Bed 1 Bath
By Bhenisha Bantawa
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No Fee
  Doorman · Laundry in Unit
2 hours  |  Score: 100
395 South End Avenue, Apt 20K
Battery Park City, Downtown Manhattan, Manhattan
$3,915 1 Bed 1 Bath
By Gateway Battery Park City
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No Fee
 
By Owner
  792 ft²
1 hour  |  Score: 100
Washington Street
Financial District, Downtown Manhattan, Manhattan
$3,020 Studio 1 Bath
William Pichardo, Financial District Expert
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No Fee
  Doorman · Elevator · Laundry in Unit
29 mins  |  Score: 100
Frederick Douglas Boulevard
Central Harlem, Upper Manhattan, Manhattan
$2,250 Studio 1 Bath
By Brett Diggs
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No Fee
  Laundry in Unit · Hardwood Floors
2 hours  |  Score: 100
Columbus Avenue
Upper West Side, Upper Manhattan, Manhattan
$4,990 3 Bed Flex 4 2 Bath
By Kacey Kelley
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No Fee
  Doorman · Elevator · Hardwood Floors
1 hour  |  Score: 100
Queens Street
Long Island City, Northwestern Queens, Queens
$3,404 1 Bed 1 Bath
Aaron Hillel, Long Island City Expert
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No Fee
  Doorman · Elevator · Laundry in Unit · Hardwood Floors
9 hours  |  Score: 100
23-05 30th Ave., Apt C6
Long Island City, Northwestern Queens, Queens
$3,436 3 Bed 2 Bath
David Kusayev, Long Island City Expert
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No Fee
 
Exclusive
  Laundry in Unit · Pre-War · Hardwood Floors
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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

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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