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.

Updated - January 16, 2017

No Fee Apartments for Rent

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Upcoming Open Houses
Tue, Jan 17    9:00am - 7:30pm    4BR, 3BA at 200 east 80
   $7,000
Tue, Jan 17    11:00am - 1:30pm    1BR, 1BA at 89-93 Teaneck Rd
   $1,499
Tue, Jan 17    7:00pm - 7:30pm    1BR, 1BA at 473 Park Place
   $2,175
Wed, Jan 18    10:00am - 6:00pm    3BR, 2BA at 301 West 53rd Street
   $6,500
2 Bedrooms, Chelsea Rental for $5,691 - Photo 1
Chelsea, Midtown Manhattan, Manhattan
$5,691
Per Month
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2 mins ago
EOS Nomad
NO FEE
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1 Bedroom, East Harlem Rental for $2,495 - Photo 1
East Harlem, Upper Manhattan, Manhattan
$2,495
Per Month
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9 mins ago
Vidal Benbasat
NO FEE
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5 Bedrooms, Kips Bay Rental for $7,300 - Photo 1
Kips Bay, Midtown Manhattan, Manhattan
$7,300
Per Month
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9 mins ago
Andre Savocchi
NO FEE
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2 Bedrooms, Williamsburg Rental for $4,810 - Photo 1
Williamsburg, Northern Brooklyn, Brooklyn
$4,810
Per Month
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10 mins ago
Aaron Hillel
NO FEE
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2 Bedrooms, Alphabet City Rental for $3,750 - Photo 1
Alphabet City, East Village, Downtown Manhattan, Manhattan
$3,750
Per Month
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9 mins ago
Liz Coughlan
NO FEE
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Studio, Fort Greene Rental for $2,311 - Photo 1
Fort Greene, Northwestern Brooklyn, Brooklyn
$2,311
Per Month
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9 mins ago
Aaron Hillel
NO FEE
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1 Bedroom, Hunters Point Rental for $2,938 - Photo 1
Hunters Point, Long Island City, Northwestern Queens, Queens
$2,938
Per Month
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10 mins ago
Aaron Hillel
NO FEE
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1 Bedroom, Chelsea Rental for $3,600 - Photo 1
Chelsea, Midtown Manhattan, Manhattan
$3,600
Per Month
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9 mins ago
Tina Borges-Druth
NO FEE
EXCLUSIVE
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2 Bedrooms, Hunters Point Rental for $5,800 - Photo 1
Hunters Point, Long Island City, Northwestern Queens, Queens
$5,800
Per Month
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9 mins ago
Ivan Urgiles
NO FEE
EXCLUSIVE
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1 Bedroom, Tribeca Rental for $5,300 - Photo 1
Tribeca, Downtown Manhattan, Manhattan
$5,300
Per Month
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10 mins ago
Tribeca House
NO FEE
BY OWNER
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Studio, Chelsea Rental for $2,100 - Photo 1
Chelsea, Midtown Manhattan, Manhattan
$2,100
Per Month
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9 mins ago
Eli Gindi
NO FEE
EXCLUSIVE
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1 Bedroom, Chelsea Rental for $3,909 - Photo 1
Chelsea, Midtown Manhattan, Manhattan
$3,909
Per Month
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10 mins ago
EOS Nomad
NO FEE
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1 Bedroom, Hunters Point Rental for $3,635 - Photo 1
Hunters Point, Long Island City, Northwestern Queens, Queens
$3,635
Per Month
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9 mins ago
Ivan Urgiles
NO FEE
EXCLUSIVE
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Studio, Chelsea Rental for $2,100 - Photo 1
Chelsea, Midtown Manhattan, Manhattan
$2,100
Per Month
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9 mins ago
Eli Gindi
NO FEE
EXCLUSIVE
Open Houses
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2 Bedrooms, Financial District Rental for $4,998 - Photo 1
Financial District, Downtown Manhattan, Manhattan
$4,998
Per Month
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10 mins ago
John White-Small
NO FEE
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2 Bedrooms, Crown Heights Rental for $2,123 - Photo 1
Crown Heights, Central Brooklyn, Brooklyn
$2,123
Per Month
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8 mins ago
NYC Leasing
NO FEE
BY OWNER
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Studio, Financial District Rental for $2,300 - Photo 1
Financial District, Downtown Manhattan, Manhattan
$2,300
Per Month
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9 mins ago
John Papadopoulos
NO FEE
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3 Bedrooms, Lincoln Square Rental for $3,945 - Photo 1
Lincoln Square, Upper West Side, Upper Manhattan, Manhattan
$3,945
Per Month
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10 mins ago
Mark Becker
NO FEE
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Studio, Crown Heights Rental for $1,700 - Photo 1
Crown Heights, Central Brooklyn, Brooklyn
$1,700
Per Month
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10 mins ago
NYC Leasing
NO FEE
BY OWNER
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Studio, Chelsea Rental for $3,499 - Photo 1
Chelsea, Midtown Manhattan, Manhattan
$3,499
Per Month
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8 mins ago
The Chelsea Leasing
NO FEE
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No Fee Apartments for Rent
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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