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No Fee Apartments for Rent

Upcoming Open Houses
Tue, Aug 21 5:30pm - 6:30pm
$5,995
4BR at 323 W 47th St
Wed, Aug 22 9:00am - 6:00pm
$5,500
3BR at 322 W 14th Street
Wed, Aug 22 11:00am - 7:00pm
$2,325
Studio at 154 E 7th St
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33 mins  |  100
East 39th Street
Murray Hill, Midtown Manhattan, Manhattan
$7,290 4 Bed 2 Bath
Moe Sarhan, Murray Hill Expert
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No Fee
  Doorman · Elevator · Laundry in Unit · Pre-War · Hardwood Floors
1 hour  |  100
568 Union Ave
Williamsburg, Northern Brooklyn, Brooklyn
$3,849 1 Bed 1 Bath
By Nicole Rodriguez
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No Fee
  Doorman · Elevator · Laundry in Unit
27 mins  |  100
Financial District
Financial District, Downtown Manhattan, Manhattan
$2,695 Studio 1 Bath
By Heather McVeigh
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No Fee
  Doorman · Elevator
1 hour  |  100
50 Battery Pl, Apt 3H
Battery Park City, Downtown Manhattan, Manhattan
$4,000 1 Bed 1 Bath
By Robin Iselin
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No Fee
 
Exclusive
 
By Owner
  Doorman · Elevator
26 mins  |  100
901 Myrtle Ave, Apt 3C
Bedford-Stuyvesant, Northern Brooklyn, Brooklyn
$2,280 1 Bed 1 Bath
By Ross K. Adams Brooklyn Expert
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No Fee
 
Exclusive
 
By Owner
  Elevator · Laundry in Unit
1 hour  |  100
East 52nd Street
Turtle Bay, Midtown East, Midtown Manhattan, Manhattan
$3,300 2 Bed 1 Bath
By Shani Spitzer
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No Fee
  Doorman · Elevator
1 hour  |  100
325 Kent Ave, Apt 1010
Williamsburg, Northern Brooklyn, Brooklyn
$2,686 Studio 1 Bath
By 325 Kent Leasing
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No Fee
 
Exclusive
  Doorman · Elevator
8 mins  |  100
291 Metropolitan ave
Williamsburg, Northern Brooklyn, Brooklyn
$1,443 Share 1 Bath
By Maksym
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No Fee
  Elevator · Laundry in Unit
4 hours  |  100
21-80 38th St., Apt C02
Astoria, Northwestern Queens, Queens
$3,250 3 Bed 2 Bath
David Kusayev, Astoria Expert
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No Fee
 
Exclusive
  Laundry in Unit · Pre-War · Hardwood Floors
1 hour  |  100
E 34th St.
Kips Bay, Midtown Manhattan, Manhattan
$4,350 2 Bed 1 Bath
By Lydia Pappas
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No Fee
  950 ft² · Doorman · Elevator · Pre-War · Hardwood Floors
3 hours  |  100
109 W 105th St, Apt 4A
Manhattan Valley, Upper West Side, Upper Manhattan, Manhattan
$2,950 2 Bed 1 Bath
By Randy Smith
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No Fee
 
Exclusive
 
34 mins  |  100
West 54th Street
Hell's Kitchen, Midtown Manhattan, Manhattan
$5,260 2 Bed 2 Bath
John White-Small, Hell's Kitchen Expert
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No Fee
  800 ft² · Doorman · Laundry in Unit · Hardwood Floors
1 hour  |  100
West End Avenue
Upper West Side, Upper Manhattan, Manhattan
$5,820 2 Bed 2.5 Bath
Hela Erez, Upper West Side Expert
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No Fee
  Elevator · Laundry in Unit · Pre-War · Hardwood Floors
5 mins  |  100
4310 18th Avenue, Apt 4A
Kensington, Central Brooklyn, Brooklyn
$2,000 1 Bed 1 Bath
By Jackie Betesh
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No Fee
 
Exclusive
  Elevator
1 hour  |  100
986 Jefferson Avenue, Apt 1
Bushwick, Northern Brooklyn, Brooklyn
$2,195 1 Bed 1.5 Bath
By Amit Golriz
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No Fee
 
Exclusive
  700 ft² · Hardwood Floors
1 hour  |  100
Greenwich St
West Village, Downtown Manhattan, Manhattan
$4,495 3 Bed 1 Bath
By Marlon Beno
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No Fee
  Doorman · Elevator · Pre-War
14 mins  |  100
483 Ocean Parkway, Apt 2K
Kensington, Central Brooklyn, Brooklyn
$2,000 1 Bed 1 Bath
By Joseph Lattanzi
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No Fee
 
Exclusive
  Elevator · Hardwood Floors
1 hour  |  100
321 Wythe Avenue, Apt 904
Williamsburg, Northern Brooklyn, Brooklyn
$2,958 1 Bed 1 Bath
By EXR New Development
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No Fee
 
Exclusive
  Elevator · Hardwood Floors
1 hour  |  100
Financial District
Financial District, Downtown Manhattan, Manhattan
$3,133 1 Bed 1 Bath
Carole Becker, Financial District Expert
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No Fee
  Doorman · Elevator
2 hours  |  100
437 W 53rd St., Apt 1B
Hell's Kitchen, Midtown Manhattan, Manhattan
$6,895 Studio 2.5 Bath
By 9300 Realty
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No Fee
 
Exclusive
 
By Owner
  Laundry in Unit · Hardwood Floors
« Back   |   Page     of 2005 (40,091 Rentals) Page 1 of 2005   |   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.

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