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
Sutton Place
350 East 54th Street
$2,500No Fee
Studio |
1
Hamilton Heights
502 West 152nd Street
$2,295No Fee
1 |
1
South Harlem
136 West 119th Street
$1,862No Fee
Studio |
1
Fort George
570 West 182nd Street
$2,650No Fee
2 |
1
Midtown
117 West 58th Street
$2,850No Fee
Studio |
1
Hell’s Kitchen
402 West 45th Street
$2,500No Fee
Studio |
1
Central Harlem
107 West 138th Street
$2,095No Fee
1 |
1
Kips Bay
150 East 27th Street
$2,700No Fee
Studio |
1
Lenox Hill
434 East 75th Street
$2,750No Fee
1 |
1
East Harlem
420 East 120th Street
$2,500No Fee
2 |
1
Upper West Side
491 Amsterdam Avenue
$2,260No Fee
1 |
1
Washington Heights
120 Haven Avenue
$2,650No Fee
2 |
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
655A Greene Avenue
$2,850No Fee
1 |
1
Stuyvesant Heights
735A Quincy Street
$2,699No Fee
2 |
1
Stuyvesant Heights
863 Hancock Street
$2,649No Fee
2 |
1
Homecrest
1773 East 12th Street
$1,900No Fee
1 |
1
Stuyvesant Heights
411 Chauncey Street
$2,495No Fee
1 |
1
Kensington
200 East 8th Street
$2,300No Fee
1 |
1
Homecrest
1764 East 18th Street
$2,295No Fee
1 |
1
Flatbush
123 Linden Boulevard
$2,895No Fee
Studio |
1
Stuyvesant Heights
930 De Kalb Avenue
$2,775No Fee
2 |
1
Kensington
45 Tehama Street
$2,100No Fee
1 |
1
Greenwood
238 22nd Street
$2,000No Fee
1 |
1
Fort Hamilton
302 Marine Avenue
$1,849No Fee
1 |
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
Rockaway All
157 Beach 96th Street
$2,400No Fee
1 |
1
Astoria
11-05 30 Road
$2,199No Fee
Studio |
1
Astoria
36-08 28th Avenue
$2,900No Fee
1 |
1
Astoria
40-09 25th Avenue
$2,500No Fee
2 |
1
Astoria
27-57 Crescent Street
$2,799No Fee
1 |
1
Briarwood
140-18 Burden Crescent
$2,300No Fee
1 |
1
Forest Hills
65-45 Yellowstone Boulevard
$2,500No Fee
1 |
1
Briarwood
140-18 Burden Crescent
$2,400No Fee
1 |
1
Richmond Hill
87-60 114th Street
$1,850No Fee
1 |
1
Astoria
31-57 31st Street
$2,505No Fee
Studio |
1
Astoria
21-22 30 Drive
$2,538No Fee
1 |
1
Astoria
26-36 Fourth Street
$2,262No Fee
1 |
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
1032 Hudson Street
$2,000No Fee
2 |
1
Hoboken
226 Jefferson Street
$2,700No Fee
1 |
1
Hoboken
831 Clinton Street
$2,700No Fee
1 |
1
Hoboken
621 Willow Avenue
$2,850No Fee
1 |
1
Hoboken
90 Court Street
$2,450No Fee
1 |
1
Hoboken
114 Garden Street
$2,500No Fee
2 |
1
Hoboken
330 Jackson Street
$2,050No Fee
1 |
1
Hoboken
404 Adams Street
$2,250No Fee
1 |
1
Hoboken
210 Jefferson Street
$2,595No Fee
Studio |
1
Hoboken
310 Madison Street
$2,825No Fee
1 |
1
Hoboken
230 Monroe Street
$2,700No 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
Journal Square
40 Vroom Street
$2,499No Fee
2 |
1
West Side
56 Glenwood Avenue
$1,900No Fee
1 |
1
Journal Square
40 Vroom Street
$2,199No Fee
1 |
1
Jersey City
41 Washburn Street
$2,400No Fee
1 |
1
Jersey City
148 Mercer Street
$2,700No Fee
1 |
6
Paulus Hook
136 Sussex Street
$2,500No Fee
1 |
1
Jersey City
211 Olean Avenue
$2,000No Fee
2 |
1
West Side
681 Bergen Avenue
$2,499No Fee
3 |
1
Jersey City
61 Greenville Avenue
$2,200No Fee
2 |
1
West Side
234 Boyd Avenue
$2,800No Fee
3 |
2
Jersey City
305 4th Street
$2,300No Fee
1 |
0
The Heights
267 Griffith Street
$2,300No Fee
2 |
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!