For Rent For Sale Resources
Post Rental Login / Register
Login

No Fee Apartments for Rent

Upcoming Open Houses
Tue, Feb 19 9:30am - 9:00pm
$5,408
2BR at 808 Columbus Avenue
Tue, Feb 19 5:00pm - 6:00pm
$2,750
1BR at 331 E 5th Street
Wed, Feb 20 11:00am - 7:00pm
$4,800
1BR at 377 East 33rd Street
Sort:   Quality   |   Price
« Back   |   Page     of 2115 (42,291 Rentals) Page 1 of 2115   |   Next »
1 hour  |  100
11th Ave
Hell's Kitchen, Midtown Manhattan, Manhattan
$4,250 1 Bed 1 Bath
By Dominique Seagears
Check Availability
No Fee
  Elevator · Hardwood Floors
1 hour  |  100
1st Ave.
East Village, Downtown Manhattan, Manhattan
$5,000 3 Bed 2 Bath
By Valerie Obregon
Check Availability
No Fee
  Laundry in Unit · Hardwood Floors
4 hours  |  100
220 E 63rd St, Apt 12C
Upper East Side, Upper Manhattan, Manhattan
$3,995 1 Bed 1 Bath
By Axel Katz
Check Availability
No Fee
 
Exclusive
  Elevator · Hardwood Floors
1 hour  |  100
377 East 33rd Street, Apt 16J
Kips Bay, Midtown Manhattan, Manhattan
$5,133 2 Bed 2 Bath
By The Lanthian Leasing
Open House:  Wed, Feb 20, 11:00am - 7:00pm
Check Availability
No Fee
 
Exclusive
  Doorman · Elevator
3 hours  |  100
2517 Bedford Avenue
Flatbush, Central Brooklyn, Brooklyn
$2,400 2 Bed 1 Bath
By Linda Virtue
Check Availability
No Fee
  700 ft²
1 hour  |  100
1713 Madison St, Apt 2C
Bushwick, Northern Brooklyn, Brooklyn
$2,785 3 Bed 2 Bath
By Hanna Kogut
Check Availability
No Fee
 
Exclusive
  Hardwood Floors
1 hour  |  100
Columbus Avenue
Upper West Side, Upper Manhattan, Manhattan
$6,800 3 Bed 3 Bath
By Simon Mamane
Check Availability
No Fee
  Doorman · Elevator · Laundry in Unit · Hardwood Floors
3 hours  |  100
1372 First Avenue
Upper East Side, Upper Manhattan, Manhattan
$2,200 1 Bed 1 Bath
By Coco Mindreau
Check Availability
No Fee
 
Exclusive
  Pre-War
3 hours  |  100
50 Battery Pl, Apt 7F
Battery Park City, Downtown Manhattan, Manhattan
$6,100 2 Bed 2 Bath
By Robin Iselin
Check Availability
No Fee
 
Exclusive
 
By Owner
  Doorman · Elevator
1 hour  |  100
E 2nd St.
Alphabet City, East Village, Downtown Manhattan, Manhattan
$3,208 2 Bed 1 Bath
By Edward Xu
Check Availability
No Fee
  Doorman · Elevator · Laundry in Unit · Hardwood Floors
1 hour  |  100
East 66th Street
Upper East Side, Upper Manhattan, Manhattan
$2,675 2 Bed 1 Bath
By Christopher Needham
Check Availability
No Fee
  Pre-War
4 hours  |  100
74 Hull Street
Ocean Hill, Central Brooklyn, Brooklyn
$2,475 3 Bed 2 Bath
By Monique Rowe
Check Availability
No Fee
 
3 hours  |  100
Amsterdam Avenue
Manhattan Valley, Upper West Side, Upper Manhattan, Manhattan
$2,575 1 Bed 1 Bath
Allison Deutsch, Upper West Side Expert
Check Availability
No Fee
  Pre-War · Hardwood Floors
3 hours  |  100
E 73rd St.
Upper East Side, Upper Manhattan, Manhattan
$2,895 2 Bed 1 Bath
Lydia Pappas, Upper East Side Expert
Check Availability
No Fee
  Hardwood Floors
1 hour  |  100
Bleecker Street
Greenwich Village, Downtown Manhattan, Manhattan
$4,500 2 Bed 1 Bath
By Megha Patel
Check Availability
No Fee
  Doorman · Elevator · Pre-War · Hardwood Floors
2 hours  |  100
W 52nd St.
Theater District, Midtown Manhattan, Manhattan
$5,351 2 Bed 2 Bath
By Ian Sossen
Check Availability
No Fee
  Doorman · Elevator · Hardwood Floors
1 hour  |  100
195 Troutman Street, Apt 2F
Bushwick, Northern Brooklyn, Brooklyn
$2,450 2 Bed 1 Bath
Alan Medvinsky, Bushwick Expert
Check Availability
No Fee
 
Exclusive
  Hardwood Floors
3 hours  |  100
Cooper Square
NoHo, Downtown Manhattan, Manhattan
$5,495 1 Bed 1 Bath
By Zack Haluszczak
Check Availability
No Fee
  Doorman · Elevator · Laundry in Unit · Hardwood Floors
1 hour  |  100
Riverside Boulevard
Lincoln Square, Upper West Side, Upper Manhattan, Manhattan
$6,700 3 Bed 2 Bath
Zeev Halfi, Upper West Side Expert
Check Availability
No Fee
  Doorman · Elevator · Laundry in Unit · Hardwood Floors
2 hours  |  100
E 38th St.
Murray Hill, Midtown Manhattan, Manhattan
$3,200 2 Bed 1 Bath
Ervin Emin, Murray Hill Expert
Check Availability
No Fee
  Doorman · Elevator · Laundry in Unit · Pre-War · Hardwood Floors
« Back   |   Page     of 2115 (42,291 Rentals) Page 1 of 2115   |   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

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.

Fair Housing and Equal Opportunity
Fair Housing and Equal Opportunity
© 2009 - 2019 RentHop.com™