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No Fee Apartments for Rent

Upcoming Open Houses
Mon, Dec 17 10:00am - 6:00pm
$3,429
1BR at 247 N 7th Street
Mon, Dec 17 10:00am - 6:00pm
$4,404
2BR at 247 N 7th Street
Wed, Dec 19 11:00am - 7:00pm
$5,225
2BR at 377 East 33rd Street
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13 mins  |  100
W 11th Street & 7th Avenue
West Village, Downtown Manhattan, Manhattan
$3,350 1 Bed 1 Bath
Helvin Rymer, West Village Expert
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No Fee
 
26 mins  |  100
East 20's
Gramercy Park, Midtown Manhattan, Manhattan
$4,195 3 Bed 1 Bath
Alex Kim, Gramercy Park Expert
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No Fee
  Doorman · Elevator
9 mins  |  100
Main Street
Roosevelt Island, Manhattan
$2,550 1 Bed 1 Bath
By Dragos Mario Popovici
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No Fee
  Elevator · Hardwood Floors
41 mins  |  100
Battery Place
Battery Park City, Downtown Manhattan, Manhattan
$2,495 1 Bed 1 Bath
EDWIN, Battery Park City Expert
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No Fee
  Doorman · Elevator · Laundry in Unit · Hardwood Floors
1 hour  |  100
201 West 11th Street, Apt 2E
West Village, Downtown Manhattan, Manhattan
$4,950 2 Bed 1 Bath
By Kobi Lahav
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No Fee
 
Exclusive
  Doorman · Elevator · Hardwood Floors
1 hour  |  100
Bond St
Downtown Brooklyn, Northwestern Brooklyn, Brooklyn
$4,700 2 Bed 2 Bath
By Ariel Masturov
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No Fee
  Doorman · Elevator · Laundry in Unit · Hardwood Floors
2 hours  |  100
626 1st Ave, Apt 42L
Murray Hill, Midtown Manhattan, Manhattan
$4,611 1 Bed 1 Bath
By Axel Katz
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No Fee
 
Exclusive
  Doorman · Elevator · Hardwood Floors
3 hours  |  100
250 E Houston St
Alphabet City, East Village, Downtown Manhattan, Manhattan
$7,775 3 Bed 2 Bath
By Kirsten Biddix
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No Fee
  Doorman · Elevator · Laundry in Unit
1 hour  |  100
45 Hoyt Street
Downtown Brooklyn, Northwestern Brooklyn, Brooklyn
$2,558 Studio 1 Bath
By Charles Mitchell
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No Fee
  Doorman · Elevator · Laundry in Unit
1 hour  |  100
365 South End Avenue, Apt 6B
Battery Park City, Downtown Manhattan, Manhattan
$4,767 2 Bed 2 Bath
By Gateway Battery Park City
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No Fee
 
By Owner
  1,041 ft²
1 hour  |  100
E Houston St.
Lower East Side, Downtown Manhattan, Manhattan
$3,046 Studio 1 Bath
By Sam Trenk
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No Fee
  Doorman · Elevator · Laundry in Unit · Hardwood Floors
1 hour  |  100
West 37th Street
Hell's Kitchen, Midtown Manhattan, Manhattan
$5,233 2 Bed 2 Bath
Allison Deutsch, Hell's Kitchen Expert
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No Fee
  Doorman · Elevator · Hardwood Floors
1 hour  |  100
E 52nd St.
Turtle Bay, Midtown East, Midtown Manhattan, Manhattan
$4,625 2 Bed 1 Bath
By Zachery Soccoli
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No Fee
  Doorman · Elevator · Hardwood Floors
1 hour  |  100
Broad Street
Financial District, Downtown Manhattan, Manhattan
$3,500 1 Bed 1 Bath
Michael Bloom, Financial District Expert
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No Fee
  Doorman · Elevator · Laundry in Unit
2 hours  |  100
Barrow St.
West Village, Downtown Manhattan, Manhattan
$3,675 1 Bed 1 Bath
By Audrey Blair
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No Fee
  Laundry in Unit · Pre-War · Hardwood Floors
1 hour  |  100
Wall Street
Financial District, Downtown Manhattan, Manhattan
$2,894 1 Bed 1 Bath
Majlinda Arber, Financial District Expert
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No Fee
  Doorman · Elevator · Laundry in Unit · Pre-War · Loft
1 hour  |  100
Metropolitan Avenue
East Williamsburg, Williamsburg, Northern Brooklyn, Brooklyn
$4,995 2 Bed 2 Bath
By Laverne Goulbourne
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No Fee
  Doorman · Elevator · Laundry in Unit · Loft · Hardwood Floors
2 hours  |  100
Midtown West, 6th Ave
Chelsea, Midtown Manhattan, Manhattan
$3,400 2 Bed 1 Bath
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No Fee
  Doorman · Elevator
3 hours  |  100
79 Kingston Ave, Apt 2C
Crown Heights, Central Brooklyn, Brooklyn
$2,300 2 Bed 1 Bath
By Christopher Daniels
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No Fee
 
Exclusive
  Hardwood Floors
2 hours  |  100
East 60's
Upper East Side, Upper Manhattan, Manhattan
$4,000 1 Bed 1 Bath
By Mariana Kiriakova
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No Fee
  Doorman · Elevator · Laundry in Unit · Hardwood Floors
« Back   |   Page     of 1906 (38,120 Rentals) Page 1 of 1906   |   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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