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No Fee Apartments for Rent

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Sat, May 25 9:00am - 4:00pm
$2,099
1BR at 492 lefferts
Sat, May 25 12:30pm - 2:30pm
$7,384
3BR at 50 Battery Pl
Sun, May 26 10:00am - 3:30pm
$2,475
2BR at 825 monroe
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48 mins  |  Score: 100
235 W 56th St 26h, New York, N...
Theater District, Midtown Manhattan, Manhattan
$4,150 1 Bed 1 Bath
By Amanda Pierce
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No Fee
  Doorman · Elevator
1 hour  |  Score: 100
448 Broome Street, Apt 3E
SoHo, Downtown Manhattan, Manhattan
$7,900 2 Bed 2 Bath
By Mayer Beno
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No Fee
 
Exclusive
  1,100 ft² · Elevator · Laundry in Unit · Loft · Hardwood Floors
1 hour  |  Score: 100
244 Hawthorne St
Prospect Lefferts Gardens, Flatbush, Central Brooklyn, Brooklyn
$2,380 2 Bed 1 Bath
Pamela Frank, Flatbush Expert
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No Fee
 
Exclusive
 
4 mins  |  Score: 100
East 9
East Village, Downtown Manhattan, Manhattan
$5,590 3 Bed 2 Bath
Maryana Kozlova, East Village Expert
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No Fee
 
35 mins  |  Score: 100
Wall Street
Financial District, Downtown Manhattan, Manhattan
$6,995 4 Bed 2 Bath
Suzanne Remy Colton, Financial District Expert
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No Fee
  Doorman · Elevator
18 mins  |  Score: 100
27th ST & 10TH AVE
Chelsea, Midtown Manhattan, Manhattan
$3,350 1 Bed 1 Bath
Hadi Aridi, Chelsea Expert
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No Fee
  Doorman · Elevator · Laundry in Unit
6 mins  |  Score: 100
325 E 88th St, Apt 2
Yorkville, Upper East Side, Upper Manhattan, Manhattan
$2,150 Studio 1 Bath
By Karen E Baskin
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No Fee
 
By Owner
 
4 mins  |  Score: 100
1571 Sterling Place, Apt A3
Weeksville, Crown Heights, Central Brooklyn, Brooklyn
$1,900 1 Bed 1 Bath
By Anil Thomas
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No Fee
 
Exclusive
 
47 mins  |  Score: 100
TriBeCa
Tribeca, Downtown Manhattan, Manhattan
$4,599 1 Bed / Flex 2 1 Bath
Andrew Pena, Tribeca Expert
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No Fee
  Doorman · Elevator · Laundry in Unit · Hardwood Floors
10 mins  |  Score: 100
1137 President St. #3b Brookly...
Crown Heights, Central Brooklyn, Brooklyn
$2,250 2 Bed 1 Bath
By gila perez
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No Fee
 
Exclusive
 
By Owner
 
1 hour  |  Score: 100
330 East 63rd St
Midtown East, Midtown Manhattan, Manhattan
$4,500 2 Bed 2 Bath
Nicole Sobol, Midtown East Expert
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No Fee
  980 ft² · Doorman · Elevator · Laundry in Unit
22 mins  |  Score: 100
103 W 136th, Apt 1
Central Harlem, Upper Manhattan, Manhattan
$2,350 1 Bed 1 Bath
By Taylan
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No Fee
 
Exclusive
  800 ft²
1 hour  |  Score: 100
14th and 1st Ave
East Village, Downtown Manhattan, Manhattan
$3,427 2 Bed 1 Bath
Vladimir A. Kulagin, East Village Expert
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No Fee
  Elevator
25 mins  |  Score: 100
788 Park Pl, Apt 8
Crown Heights, Central Brooklyn, Brooklyn
$2,500 2 Bed 1 Bath
Shakeria Francis, Crown Heights Expert
Open House:  Fri, May 24, 10:00am - 3:30pm
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No Fee
 
1 hour  |  Score: 100
1st Avenue
Murray Hill, Midtown Manhattan, Manhattan
$9,995 3 Bed 2 Bath
By Laverne Goulbourne
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No Fee
  1,425 ft² · Doorman · Elevator · Laundry in Unit · Loft
1 hour  |  Score: 100
Financial District, Downtown ...
Financial District, Downtown Manhattan, Manhattan
$2,956 Studio / Flex 1 1 Bath
By Marco Bianchi
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No Fee
  Doorman · Elevator
3 hours  |  Score: 100
448 Broome Street, Apt 3E
SoHo, Downtown Manhattan, Manhattan
$8,000 2 Bed 2 Bath
By Charles Munroe
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No Fee
  1,100 ft² · Elevator · Laundry in Unit
1 hour  |  Score: 100
West 45th Street
Hell's Kitchen, Midtown Manhattan, Manhattan
$3,140 2 Bed 1 Bath
By Tresor Senga
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No Fee
  Doorman · Elevator · Laundry in Unit · Hardwood Floors
1 hour  |  Score: 100
East 20's
Kips Bay, Midtown Manhattan, Manhattan
$4,795 2 Bed / Flex 3 2 Bath
Yordan Bobchev, Kips Bay Expert
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No Fee
  1,200 ft² · Doorman · Elevator
1 hour  |  Score: 100
East 17th street
East Village, Downtown Manhattan, Manhattan
$4,600 3 Bed 1 Bath
Jonathan Hernandez, East Village Expert
Check Availability
No Fee
  980 ft² · Elevator
« Back   |   Page     of 1450 (28,990 Rentals) Page 1 of 1450   |   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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