More than 65% of New York City residents are renters, so whether it is your first time searching for an apartment or the 10th, you are not alone. Our guide to renting in NYC shares everything you need to know about the ins and outs of renting, from how much rent you can afford to tips for breaking a lease (hey, it happens!).
Other topics covered in this guide to renting in NYC include how to go about finding the best apartment for you (and roommates if you need them), what to expect at a lease signing, paperwork and fees you'll need to rent a place, whether you should use a broker, and much more.
Ready to search for your new apartment? Start here.
Apartment hunting in New York City can be complicated thanks to NYC real estate-specific jargon. One such term you’ve likely come across is “no-fee apartment.” What does that mean? Well, using a broker to help you find a rental is standard ― but it’s not free. Typically, someone has to pay for the broker’s services, and in NYC, who pays that fee can vary from apartment to apartment. Here’s everything you need to know about no-fee apartments in NYC.
Table of Contents
Manhattan Rentals Under $3,000 on StreetEasyArticle continues below
East Harlem
154 East 106th Street
$1,950No Fee
Studio |
1
Lenox Hill
321 East 66th Street
$2,450No Fee
Studio |
1
Central Harlem
243 West 135th Street
$2,150No Fee
1 |
1
Central Harlem
2374 Adam C Powell Boulevard
$2,000No Fee
Studio |
1
Hudson Heights
92 Pinehurst Avenue
$2,100No Fee
Studio |
1
South Harlem
302 Manhattan Avenue
$2,800No Fee
1 |
1
Hell’s Kitchen
415 West 47th Street
$2,525No Fee
Studio |
1
Lincoln Square
250 West 72nd Street
$2,500No Fee
Studio |
1
Yorkville
337 East 90th Street
$2,450No Fee
Studio |
1
Sutton Place
1091 Second Avenue
$2,700No Fee
1 |
1
Yorkville
332 East 93rd Street
$2,400No Fee
Studio |
1
Yorkville
334 East 93rd Street
$2,750No Fee
1 |
1
What Is a No-Fee Apartment Listing?
When searching for a place, you’ll likely come across apartment listings that loudly declare “no fee!” You’ll also encounter many listings that don’t. So what’s the difference?
In very basic terms, a no-fee apartment is an apartment where the tenant doesn’t pay a commission or broker fee. But, like so many things in NYC real estate, there’s more to know.
Brooklyn Rentals Under $3,000 on StreetEasyArticle continues below
Bedford-Stuyvesant
729 Lafayette Avenue
$2,780No Fee
1 |
1
Crown Heights
377 Montgomery Street
$2,850No Fee
2 |
1
Ditmas Park
401 East 21st Street
$2,565No Fee
2 |
1
Crown Heights
1518 Pacific Street
$1,900No Fee
1 |
1
Flatbush
270 Clarkson Avenue
$2,220No Fee
Studio |
1
Crown Heights
98 Kingston Avenue
$2,220No Fee
2 |
1
Crown Heights
809 Park Place
$2,400No Fee
1 |
1
Prospect Park South
5 Westminster Road
$2,320No Fee
1 |
1
Bushwick
38 Cooper Street
$2,599No Fee
2 |
1
Kensington
207 Ocean Parkway
$2,200No Fee
1 |
1
Brownsville
365 Legion Street
$2,740No Fee
3 |
1
Bushwick
321 Schaefer Street
$2,490No Fee
2 |
1
What’s the Difference Between Broker Fees and Commissions?
“The terms ‘broker fee’ and ‘commission’ are interchangeable,” says Becki Danchik, a StreetEasy Expert and broker with Coldwell Banker Warburg. “It’s the fee a broker earns on completing a transaction in which they match the right person with the right property. A no-fee apartment is typically when the landlord has agreed to pay that fee to the exclusive listing agent on behalf of the tenant.” A landlord will usually do this in the hope of securing a tenant quickly, she explains.
Landlords Have Brokers
Keep in mind, though, that “no fee” applies only to the landlord’s broker, also known as the listing agent, and landlords are not required to cover that cost (more on this shortly). Here’s how it works: if you approach an apartment’s listing agent directly and secure the no-fee apartment on your own, then great — you don’t pay a fee! But if you enlisted the services of a broker (who is not the listing agent), and you found that apartment through that broker, you owe them their commission, whether the apartment says “no fee” or not.
Queens Rentals Under $3,000 on StreetEasyArticle continues below
Briarwood
139-21 85 Drive
$2,200No Fee
2 |
1
Ridgewood
60-15 Myrtle Avenue
$2,850No Fee
2 |
1
Astoria
10 Halletts Point
$2,629No Fee
Studio |
1
Jamaica
95-07 Sutphin Boulevard
$2,600No Fee
3 |
1
Bellerose
89-40 Pontiac Street
$2,800No Fee
3 |
2
Flushing
143-06 Barclay Avenue
$1,999No Fee
1 |
1
Flushing
143-36 Barclay Avenue
$2,599No Fee
2 |
1
Ditmars-Steinway
45-02 Ditmars Boulevard
$2,500No Fee
1 |
1
Astoria
28-27 38th Street
$2,400No Fee
2 |
1
Ditmars-Steinway
22-29 79th Street
$2,600No Fee
2 |
1
Ridgewood
1929 Woodbine Street
$2,800No Fee
1 |
1
Ditmars-Steinway
22-77 Steinway Avenue
$1,875No Fee
Studio |
1
What Is a Broker Fee?
Now that you understand the definition of no-fee apartment, you’d probably like to know how apartments with fees work. In short, renters who use a broker to find an apartment have to pay a broker fee. If you hire a broker who successfully finds you an apartment, they’ll earn an agreed-upon commission on the deal.
How Much Are Broker Fees for Renters?
The cost varies by broker and area. For instance, fees charged for Manhattan rentals may be more expensive than units in Queens, which has a lower median asking rent. Broker fees are somewhat negotiable, but generally, it’s either one month’s rent or up to 15% of the unit’s annual rent. That’s on top of paying your first month’s rent and security deposit. FYI: your security deposit can’t be more than one month’s rent.
Wait, Weren’t Broker Fee Abolished?
New York State changed the broker fee regulations with the Statewide Housing Security & Tenant Protection Act of 2019. The guidance issued stated that a prospective tenant can’t compensate a landlord’s agent (aka listing agent). It would have been a substantial cost-saving measure for future renters ― but a judge struck it down in April 2021, ruling that the state misinterpreted the act.
Sample Move-In Costs with a Broker’s Fee
Property owners or management companies will often ask for first month’s rent and a security deposit, in addition to the broker’s fee, before you can move in to a new apartment. Here is the estimated cost breakdown for a $3,799/month (NYC’s median asking rent as of July 2023 — to see the latest median asking rent for a particular neighborhood, visit our StreetEasy Data Dashboard) apartment with a 12 percent broker’s fee (percentage of total annual cost) — before even moving in!
Move-in costs for $3,799/month apartment
First month
$3,799
Security deposit
$3,799
Broker’s fee (12%)
$5,470.56
Total
$13,068.56
Hoboken Rentals Under $3,000 on StreetEasyArticle continues below
Hoboken
565 1st Street
$2,200No Fee
Studio |
1
Hoboken
156 7th Street
$2,499No Fee
Studio |
1
Hoboken
112 14th Street
$2,700No Fee
1 |
1
Hoboken
310 Madison Street
$2,900No Fee
1 |
1
Hoboken
1218 Washington Street
$2,500No Fee
1 |
1
Hoboken
354 1st Street
$2,450No Fee
1 |
1
Hoboken
1016 Willow Avenue
$2,500No Fee
1 |
1
Hoboken
300 Newark Street
$2,800No Fee
1 |
1
Hoboken
500 Monroe Street
$2,704No Fee
1 |
1
Hoboken
325 Grand Street
$2,750No Fee
1 |
1
Hoboken
83 Jefferson Street
$2,800No Fee
1 |
1
Hoboken
410 Washington Street
$2,550No Fee
1 |
1
How to Find a No-Fee Apartment in NYC
You’ve decided you want to avoid paying a broker fee. Now, you’re probably wondering how to find a no-fee apartment. Here are a few options:
Use the no-fee apartment filter on StreetEasy: You can easily check the “no-fee only” box during your StreetEasy search to yield only apartment options without a broker fee. It will narrow your search to only those units.
Look for apartments listed by owners or management companies: A management rep is essentially an in-house broker — their goal is to find ideal tenants for their apartments. So, if you contact them directly, there shouldn’t be a fee. Just remember, property management companies rent apartments only in their specific buildings. Brokers, on the other hand, can have access to rentals in a variety of places.
Walk around the neighborhood: If you know the neighborhood you’re interested in, walk around it to see if buildings have posted listing signs. They should have the landlord or management company’s contact information. Call them and see if there are apartments available or if any are coming up.
Jersey City Rentals Under $3,000 on StreetEasyArticle continues below
Jersey City
120 Armstrong Avenue
$1,895No Fee
2 |
1
Jersey City
27 Crossgate Road
$2,300No Fee
2 |
1
Jersey City
27 Crossgate Road
$2,100No Fee
2 |
1
Jersey City
87 Mcadoo Avenue
$2,650No Fee
4 |
1
Paulus Hook
70 Greene Street
$2,914No Fee
Studio |
1
Journal Square
345 Baldwin Avenue
$2,195No Fee
Studio |
1
Jersey City
160 Vroom Street
$1,975No Fee
1 |
1
Bergen/Lafayette
829 Garfield Avenue
$2,676No Fee
2 |
2
Jersey City
66 Rutgers Avenue
$1,900No Fee
2 |
1
Paulus Hook
270 Luis M Marin Boulevard
$2,200No Fee
Studio |
1
Jersey City
160 Vroom Street
$1,995No Fee
2 |
1
Jersey City
372 Liberty Avenue
$2,300No Fee
3 |
1
Do No-Fee Apartments Save You Money?
Surface level, it seems that no-fee apartments would be less expensive to rent than fee apartments. But there is some debate as to whether no-fee rentals save renters money, particularly when it comes to luxury rentals. Many buildings like these are no-fee, but cost much more per month because they have desirable amenities such as doormen, fitness centers, and outdoor space. It’s also possible that for a no-fee apartment, the broker fee is baked into your rent and you end up paying more per month — but it still saves you on upfront move-in costs.
Whatever you decide, be sure to search for your dream rental on StreetEasy!