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No Fee Apartments for Rent

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2 Bedrooms, West Village Rental in NYC for $6,825 - Photo 1 2 Bedrooms, West Village Rental in NYC for $6,825 - Photo 2
Posted 19 mins ago
110 Horatio Street, Apt 301
West Village, Downtown Manhattan, Manhattan
$6,825 2 Bed 2 Bath
Shiv Babani, West Village Expert
Check Availability
No Fee
  1,100 ft² · Doorman · Elevator
2 Bedrooms, Hell's Kitchen Rental in NYC for $4,999 - Photo 1 2 Bedrooms, Hell's Kitchen Rental in NYC for $4,999 - Photo 2
Posted 21 mins ago
606 West 57th Street, Apt 810
Hell's Kitchen, Midtown Manhattan, Manhattan
$4,999 2 Bed / Flex 3 2 Bath
Shiv Babani, Hell's Kitchen Expert
Check Availability
No Fee
  1,000 ft² · Doorman · Elevator · Laundry in Unit
Studio, Theater District Rental in NYC for $2,825 - Photo 1 Studio, Theater District Rental in NYC for $2,825 - Photo 2
Posted 10 mins ago
W 56th St
Theater District, Midtown Manhattan, Manhattan
$2,825 Studio 1 Bath
By Bethany Hausele
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No Fee
  Hardwood Floors
Studio, West Village Rental in NYC for $2,850 - Photo 1 Studio, West Village Rental in NYC for $2,850 - Photo 2
Posted 34 mins ago
26 Grove Street, Apt 1D
West Village, Downtown Manhattan, Manhattan
$2,850 Studio 1 Bath
By Ric Salinas
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No Fee
  Elevator · Pre-War · Hardwood Floors
Studio, Hell's Kitchen Rental in NYC for $3,185 - Photo 1 Studio, Hell's Kitchen Rental in NYC for $3,185 - Photo 2
Posted 10 mins ago
10th Ave.
Hell's Kitchen, Midtown Manhattan, Manhattan
$3,185 Studio / Flex 1 1 Bath
By Bethany Hausele
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No Fee
  Doorman · Elevator · Pre-War · Hardwood Floors
1 Bedroom, NoLita Rental in NYC for $3,595 - Photo 1 1 Bedroom, NoLita Rental in NYC for $3,595 - Photo 2
Posted 16 mins ago
250 Mott St, Apt 20
NoLita, Downtown Manhattan, Manhattan
$3,595 1 Bed 1 Bath
Luke Blanch, NoLita Expert
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No Fee
  Laundry in Unit
Studio, East Village Rental in NYC for $2,875 - Photo 1 Studio, East Village Rental in NYC for $2,875 - Photo 2
Posted 35 mins ago
284 East 10th Street, Apt C
East Village, Downtown Manhattan, Manhattan
$2,875 Studio 1 Bath
By Ric Salinas
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No Fee
  Hardwood Floors
Studio, Hell's Kitchen Rental in NYC for $3,025 - Photo 1 Studio, Hell's Kitchen Rental in NYC for $3,025 - Photo 2
Posted 1 hour ago
410 West 53rd Street, Apt 320
Hell's Kitchen, Midtown Manhattan, Manhattan
$3,025 Studio 1 Bath
Marlon Browar, Hell's Kitchen Expert
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No Fee
  Doorman · Elevator · Hardwood Floors
1 Bedroom, Flatiron District Rental in NYC for $4,500 - Photo 1 1 Bedroom, Flatiron District Rental in NYC for $4,500 - Photo 2
Posted 11 mins ago
5th Ave.
Flatiron District, Midtown Manhattan, Manhattan
$4,500 1 Bed / Flex 2 1 Bath
By Avi Komemy
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No Fee
  Doorman · Elevator · Hardwood Floors
2 Bedrooms, Bowery Rental in NYC for $3,490 - Photo 1 2 Bedrooms, Bowery Rental in NYC for $3,490 - Photo 2
Posted 13 mins ago
Stanton Street
Bowery, Downtown Manhattan, Manhattan
$3,490 2 Bed 1 Bath
By Suzanne Goldklang
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No Fee
 
1 Bedroom, Theater District Rental in NYC for $3,500 - Photo 1 1 Bedroom, Theater District Rental in NYC for $3,500 - Photo 2
Posted 9 mins ago
W 55th St.
Theater District, Midtown Manhattan, Manhattan
$3,500 1 Bed / Flex 2 1 Bath
By Avi Komemy
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No Fee
  Doorman · Elevator · Hardwood Floors
Studio, Hunters Point Rental in NYC for $2,245 - Photo 1 Studio, Hunters Point Rental in NYC for $2,245 - Photo 2
Posted 28 mins ago
46th Avenue
Hunters Point, Long Island City, Northwestern Queens, Queens
$2,245 Studio 1 Bath
Asen Grigorov, Long Island City Expert
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No Fee
  547 ft² · Doorman · Elevator
1 Bedroom, Financial District Rental in NYC for $4,250 - Photo 1 1 Bedroom, Financial District Rental in NYC for $4,250 - Photo 2
Posted 32 mins ago
Pine Street
Financial District, Downtown Manhattan, Manhattan
$4,250 1 Bed / Flex 2 1 Bath
By Natalie Blanco
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No Fee
  Doorman · Elevator
Studio, Financial District Rental in NYC for $2,971 - Photo 1 Studio, Financial District Rental in NYC for $2,971 - Photo 2
Posted 32 mins ago
Water Street
Financial District, Downtown Manhattan, Manhattan
$2,971 Studio 1 Bath
By Natalie Blanco
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No Fee
  Doorman · Elevator
2 Bedrooms, NoLita Rental in NYC for $4,610 - Photo 1 2 Bedrooms, NoLita Rental in NYC for $4,610 - Photo 2
Posted 1 hour ago
221 Mott St, Apt 1RN
NoLita, Downtown Manhattan, Manhattan
$4,610 2 Bed 2 Bath
Luke Blanch, NoLita Expert
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No Fee
  Laundry in Unit
1 Bedroom, Hell's Kitchen Rental in NYC for $3,536 - Photo 1 1 Bedroom, Hell's Kitchen Rental in NYC for $3,536 - Photo 2
Posted 1 hour ago
550 West 54th Street, Apt 1817...
Hell's Kitchen, Midtown Manhattan, Manhattan
$3,536 1 Bed 1 Bath
David Gelfenbeyn, Hell's Kitchen Expert
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No Fee
  Doorman · Elevator · Laundry in Unit
Studio, Hunters Point Rental in NYC for $3,050 - Photo 1 Studio, Hunters Point Rental in NYC for $3,050 - Photo 2
Posted 8 mins ago
47-05 Center Boulevard #2902, ...
Hunters Point, Long Island City, Northwestern Queens, Queens
$3,050 Studio 1 Bath
By William Shepley
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No Fee
 
By Owner
  515 ft² · Doorman · Elevator
2 Bedrooms, Lenox Hill Rental in NYC for $7,775 - Photo 1 2 Bedrooms, Lenox Hill Rental in NYC for $7,775 - Photo 2
Posted 9 mins ago
East 64th Street
Lenox Hill, Upper East Side, Upper Manhattan, Manhattan
$7,775 2 Bed 2 Bath
Jared Schwartz, Upper East Side Expert
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No Fee
  Doorman · Elevator · Laundry in Unit
1 Bedroom, Financial District Rental in NYC for $3,722 - Photo 1 1 Bedroom, Financial District Rental in NYC for $3,722 - Photo 2
Posted 2 hours ago
2 Gold Street, Apt 3202
Financial District, Downtown Manhattan, Manhattan
$3,722 1 Bed 1 Bath
David Gelfenbeyn, Financial District Expert
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No Fee
  Doorman · Elevator
1 Bedroom, Hell's Kitchen Rental in NYC for $4,311 - Photo 1 1 Bedroom, Hell's Kitchen Rental in NYC for $4,311 - Photo 2
Posted 2 hours ago
555 10th Avenue, Apt 21D
Hell's Kitchen, Midtown Manhattan, Manhattan
$4,311 1 Bed 1 Bath
Becky Cooke, Hell's Kitchen Expert
Check Availability
No Fee
  Doorman · Elevator · Laundry in Unit
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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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