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No Fee Apartments for Rent

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Studio, SoHo Rental in NYC for $4,400 - Photo 1 Studio, SoHo Rental in NYC for $4,400 - Photo 2
Last 30 min
155 Prince Street, Apt FL3
SoHo, Downtown Manhattan, Manhattan
$4,400 Studio 1 Bath
By Charles Munroe
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No Fee
 
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  650 ft² · Laundry in Unit
2 Bedrooms, Bushwick Rental in NYC for $2,650 - Photo 1 2 Bedrooms, Bushwick Rental in NYC for $2,650 - Photo 2
Last 30 min
1420 Dekalb Ave, Apt 2R
Bushwick, Northern Brooklyn, Brooklyn
$2,650 2 Bed 2 Bath
By Karolina Jaloszewska
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No Fee
 
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  580 ft²
2 Bedrooms, Garment District Rental in NYC for $4,579 - Photo 1 2 Bedrooms, Garment District Rental in NYC for $4,579 - Photo 2
Last 30 min
330 West 39th Street, Apt 5K
Garment District, Midtown Manhattan, Manhattan
$4,579 2 Bed 2 Bath
By David Gelfenbeyn
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No Fee
 
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  Doorman · Elevator · Laundry in Unit
3 Bedrooms, Alphabet City Rental in NYC for $4,850 - Photo 1 3 Bedrooms, Alphabet City Rental in NYC for $4,850 - Photo 2
Last 30 min
321 East 10th Street
Alphabet City, East Village, Downtown Manhattan, Manhattan
$4,850 3 Bed 2 Bath
Ramzis Hadzhi, East Village Expert
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No Fee
 
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  Laundry in Unit
1 Bedroom, Financial District Rental in NYC for $3,400 - Photo 1 1 Bedroom, Financial District Rental in NYC for $3,400 - Photo 2
Last 30 min
19 Dutch Street, Apt 22H
Financial District, Downtown Manhattan, Manhattan
$3,400 1 Bed 1 Bath
By Yani A.
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No Fee
 
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  Doorman · Elevator · Laundry in Unit
Studio, NoHo Rental in NYC for $2,720 - Photo 1 Studio, NoHo Rental in NYC for $2,720 - Photo 2
Last 30 min
1 Astor Place, Apt 5D
NoHo, Downtown Manhattan, Manhattan
$2,720 Studio 1 Bath
By David Gelfenbeyn
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No Fee
 
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  Doorman · Elevator
5 Bedrooms, Financial District Rental in NYC for $7,840 - Photo 1 5 Bedrooms, Financial District Rental in NYC for $7,840 - Photo 2
Last 30 min
135 William Street, Apt 12A
Financial District, Downtown Manhattan, Manhattan
$7,840 5 Bed 2 Bath
Paeder A Varnam, Financial District Expert
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No Fee
 
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  1,600 ft² · Elevator · Laundry in Unit
2 Bedrooms, Hell's Kitchen Rental in NYC for $2,850 - Photo 1 2 Bedrooms, Hell's Kitchen Rental in NYC for $2,850 - Photo 2
Last hour
785 Ninth Avenue #2c, Apt 2C
Hell's Kitchen, Midtown Manhattan, Manhattan
$2,850 2 Bed 1 Bath
Robert , Hell's Kitchen Expert
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No Fee
 
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  720 ft² · Pre-War · Hardwood Floors
3 Bedrooms, Alphabet City Rental in NYC for $4,695 - Photo 1 3 Bedrooms, Alphabet City Rental in NYC for $4,695 - Photo 2
Last 30 min
186 Avenue B
Alphabet City, East Village, Downtown Manhattan, Manhattan
$4,695 3 Bed 2 Bath
Ramzis Hadzhi, East Village Expert
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No Fee
 
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  1,100 ft² · Laundry in Unit
2 Bedrooms, Alphabet City Rental in NYC for $4,200 - Photo 1 2 Bedrooms, Alphabet City Rental in NYC for $4,200 - Photo 2
Last 30 min
194 East 2nd
Alphabet City, East Village, Downtown Manhattan, Manhattan
$4,200 2 Bed 1 Bath
By Karolina Jaloszewska
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No Fee
 
Live Video Tour
  606 ft² · Doorman · Elevator
1 Bedroom, Yorkville Rental in NYC for $2,400 - Photo 1 1 Bedroom, Yorkville Rental in NYC for $2,400 - Photo 2
1 hour ago
310 East 81 Street, Apt 4
Yorkville, Upper East Side, Upper Manhattan, Manhattan
$2,400 1 Bed 1 Bath
Robert A. Brooks, Upper East Side Expert
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No Fee
  780 ft² · Pre-War · Hardwood Floors
2 Bedrooms, Washington Heights Rental in NYC for $2,195 - Photo 1 2 Bedrooms, Washington Heights Rental in NYC for $2,195 - Photo 2
Last hour
573 West 159th Street, Apt 19
Washington Heights, Upper Manhattan, Manhattan
$2,195 2 Bed 1 Bath
Oscarli Diaz, Washington Heights Expert
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No Fee
 
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3 Bedrooms, Turtle Bay Rental in NYC for $6,257 - Photo 1 3 Bedrooms, Turtle Bay Rental in NYC for $6,257 - Photo 2
1 hour ago
301 East 47th Street, Apt 4A
Turtle Bay, Midtown East, Midtown Manhattan, Manhattan
$6,257 3 Bed / Flex 5 2 Bath
Nicole Goldberg, Midtown East Expert
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No Fee
 
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  Doorman · Elevator · Laundry in Unit
Studio, Hell's Kitchen Rental in NYC for $1,712 - Photo 1 Studio, Hell's Kitchen Rental in NYC for $1,712 - Photo 2
Last hour
403 West 54th Street
Hell's Kitchen, Midtown Manhattan, Manhattan
$1,712 Studio 1 Bath
By SELLES- Soraya
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No Fee
 
3 Bedrooms, Turtle Bay Rental in NYC for $4,312 - Photo 1 3 Bedrooms, Turtle Bay Rental in NYC for $4,312 - Photo 2
1 hour ago
301 East 47th Street, Apt 4O
Turtle Bay, Midtown East, Midtown Manhattan, Manhattan
$4,312 3 Bed 1 Bath
Nicole Goldberg, Midtown East Expert
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No Fee
 
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  Doorman · Elevator
3 Bedrooms, Prospect Lefferts Gardens Rental in NYC for $3,000 - Photo 1 3 Bedrooms, Prospect Lefferts Gardens Rental in NYC for $3,000 - Photo 2
Last hour
239 Hawthorne Street, Apt 4A
Prospect Lefferts Gardens, Flatbush, Central Brooklyn, Brooklyn
$3,000 3 Bed 1 Bath
By John Duffy
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No Fee
 
Exclusive
 
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  Doorman
1 Bedroom, Hell's Kitchen Rental in NYC for $2,833 - Photo 1 1 Bedroom, Hell's Kitchen Rental in NYC for $2,833 - Photo 2
Last hour
350 West 50th Street, Apt 14C
Hell's Kitchen, Midtown Manhattan, Manhattan
$2,833 1 Bed / Flex 2 1 Bath
Sreeram Mallikarjun, Hell's Kitchen Expert
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No Fee
 
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  Doorman · Elevator · Furnished
1 Bedroom, Murray Hill Rental in NYC for $3,500 - Photo 1 1 Bedroom, Murray Hill Rental in NYC for $3,500 - Photo 2
Last 30 min
East 34th Street
Murray Hill, Midtown Manhattan, Manhattan
$3,500 1 Bed / Flex 2 1.5 Bath
Carole Attlan, Murray Hill Expert
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No Fee
 
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  Doorman · Elevator
3 Bedrooms, Murray Hill Rental in NYC for $4,800 - Photo 1 3 Bedrooms, Murray Hill Rental in NYC for $4,800 - Photo 2
Last 30 min
East 34th Street
Murray Hill, Midtown Manhattan, Manhattan
$4,800 3 Bed / Flex 4 2 Bath
Carole Attlan, Murray Hill Expert
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No Fee
 
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  1,350 ft² · Doorman · Elevator
4 Bedrooms, Turtle Bay Rental in NYC for $6,427 - Photo 1 4 Bedrooms, Turtle Bay Rental in NYC for $6,427 - Photo 2
Last 30 min
E 47th St.
Turtle Bay, Midtown East, Midtown Manhattan, Manhattan
$6,427 4 Bed / Flex 5 3 Bath
Lydia Pappas, Midtown East Expert
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No Fee
  Doorman · Elevator · Laundry in Unit · Hardwood Floors
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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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