What does no fee rental mean in NYC?

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What does no fee rental mean in NYC?

A no-fee apartment means the renter does not pay a broker’s fee. A landlord or management company may pay the fee on the tenant’s behalf, in which case the apartment is advertised as no-fee. If you sign directly with a building owner, there is no fee.

Where can I find no fee apartments in NYC?

Here are several websites with plenty of no-fee listings to get your apartment hunt started.

  1. Craigslist.
  2. Joinery.
  3. The Listings Project.
  4. Naked Apartments.
  5. NYBits.
  6. Flip.
  7. Lease Break.
  8. StreetEasy, Zumper, RentHop, Igluu.

Are all apartments in NYC no fee?

Out of their roughly 10,000 listings, 73 percent are no fee. Out of those, 68 percent are in Manhattan, 24 percent are in Brooklyn, and 6 percent are in Queens.

Are rents in NYC negotiable?

If an apartment is rent stabilized, a landlord will be unlikely to budge, regardless of the market conditions, because once the rent falls, that new rent will become permanent, and can only increase at rates set by the city. Small, independent landlords may be the most willing to negotiate.

Are brokers fees illegal in NYC?

The short-lived ban on broker’s fees is officially history. On Tuesday, the New York Department of State quietly walked back its bombshell guidance that aimed to block brokers from collecting a commission from tenants.

Are broker fees worth it?

If you’ve got a good poker face or you’re not known to back down from a challenge, you might be able compromise or stop the discussion before the broker collects commission. Bottom line: While it may seem backward, paying a broker’s fee can save you money and lots of stress (and probably tears).

What is a normal broker fee?

How much do brokers actually get paid? On average, a mortgage broker’s commission is 0.15% of the loan balance. This equates to approximately $600 a year on a $400,000 loan balance.

Is there a best time to rent in NYC?

Therefore, if you are looking for the best “deals” on rental apartments in NYC, then the best time to look would be between October and February. Landlords hate to have their apartments on the market during this time because they know that the foot traffic will be much less.

What is the average rental broker fee in NYC?

The typical rental broker fee in NYC is either one month rent or 15% of the annual rent. The exact rental broker fee varies by listing in NYC based on the commission agreement negotiated between the landlord and the rental broker.

Who pays the broker fee when renting in NYC?

Rental broker fees in NYC are usually paid by tenants instead of landlords . This is the opposite of what happens in the rest of the country, whereby landlords normally pay rental broker commissions. With that said, not all rentals in NYC have broker fees.

Where can you rent a car in NYC?

Car Rental Locations in New York City. A rental car from Enterprise Rent-A-Car is perfect for road trips, airport travel or to get around the city on weekends. Visit one of our many convenient neighborhood car rental locations in New York City, or find cheap car rental rates at John F. Kennedy International (JFK), Newark Liberty International (EWR), or LaGuardia (LGA) Airports.