Printed from StreetEasy.com at 07:46 AM, May 20 2013
http://streeteasy.com/nyc/talk/discussion/31801-broker-asking-3500-fee-to-renew-lease?last_page=true
Was back at my old garage picking up a Zipcar the other week. Four years after getting rid of the 560SEL, the garage guy asked about it. Said they all loved it, and they drive everything.
> I think in life it is worth knowing which battles to fight and which on'es not to. Unless you have some very strong attachment to this unit, I think it is time to move on. What you have is a bad relationship and even if you 'solve' this one, there will be more to come. This is nothing to do with the broker per say: in this deal the landlord and broker are in tandem and come as a package. It is not for you to know whether the broker is acting in the landlord's best interest - you have no idea what the landlord's circumstances are or the nature of the relationship. Maybe even the broker and landlord are spouses or business partners. There is a reason why the broker manages the unit and very likely the relationship between the landlord and broker/agent is far more important than that between the laandlord and a tenant who has been there only two years.
Take matsui's advice and get the hell out. There are plenty of fish to fry. Unless your apartment is printing Benjies, paying $3500 rent is it, to deal with this hassle is truly insanity.
str33teasier
about 10 months ago
Posts: 373
Member since: Feb 2010
> There is no way they are splitting it.
There is no way to tell now is there ?
str33teasier
about 10 months ago
Posts: 373
Member since: Feb 2010
> I think the mistake is that you are seeing the landlord's world the way you see yours - your worlds mmay actually be very different and 7000 USD may not matter as much to the landlord as you think it does.
Ding ding ding, to think the landlord is actually ON YOUR SIDE is a bet I wouldn't take, not in a million year! Go back to Matsui's original post of the "unknown" value placed in the landlord & broker relationship.
str33teasier
about 10 months ago
Posts: 373
Member since: Feb 2010
> Talk to a lawyer first and then do my best to talk to my landlord directly.
I will be surprise if talking to the landlord does anything but we shall see.
jason10006
about 10 months ago
Posts: 4910
Member since: Jan 2009
"I will be surprise if talking to the landlord does anything but we shall see."
I think most LL's would be PISSED about it.
deanc
about 10 months ago
Posts: 229
Member since: Jun 2006
so what was the outcome? what happened?
somewhereelse
about 9 months ago
Posts: 7337
Member since: Oct 2009
Why not share the broker's name?
pier45
about 9 months ago
Posts: 144
Member since: May 2009
I get the impression this is an isolated case of a broker abusing their agency over a property.
While the owner is a loser, they probably will never notice or care. The tenant stands to lose the most here.
Unfortunately the only way for a tenant to protect oneself is to never pay a fee thinking that it will enable them to stay past the initial lease term. Some think "oh well it's a $5k fee so if I stay 4 years it's only an extra $104 a month". But you only buy the right to one year, so you should be comparing it to a no-fee apartment costing $416/month more.
>it's only an extra $104 a month
>you should be comparing it to a no-fee apartment costing $416/month
It's $5000. Why does it have to be compared to anything. $5000. Off of which there is no value whatsoever.
greasegum
about 9 months ago
Posts: 0
Member since: Aug 2012
I am going through an almost identical situation. The broker wants a $500 renewal fee. He says the owner is requiring all occupants to be on the lease. The worst part is, the broker wants to charge my roommate $1000 or vacate. This has me in a serious bind.
I basically said, look I will pay you a fee for processing the paperwork, but I don't think you are entitled to any "broker's fee" because you haven't since I moved in 2 years ago. We'll see how it all goes down. Anyway, good feeling that I'm not the only person facing this kind of abusive practice. Renters need to back each other up.
greasegum
about 9 months ago
Posts: 0
Member since: Aug 2012
Part of the issue is that there is allegedly a less than 1% vacancy rate for Manhattan apartments right now, so brokers aren't making fees. Some of the less scrupulous ones are looking for other ways to collect and this is one of them.
Aaron_Henry
about 9 months ago
Posts: 0
Member since: May 2012
Your best bet is to call the state 518 474 4429 it sounds like profiteering to me.
How do you get there? Zipcar each time?
Was back at my old garage picking up a Zipcar the other week. Four years after getting rid of the 560SEL, the garage guy asked about it. Said they all loved it, and they drive everything.
it isn't a second home.
vacant lot awaiting development?
Go for it, hones.
It's the used car lot that his parents bought him when he was four and they could already tell how he'd turn out.
560sec
move the keerist on.
The sec is a two door.
yes indeed. unless you're running a car service, why would you need more?
i had a 1984 amg modified. fantastic car as long as the pavement was dry and i was going in a straight line.
Because i have a child.
> I think in life it is worth knowing which battles to fight and which on'es not to. Unless you have some very strong attachment to this unit, I think it is time to move on. What you have is a bad relationship and even if you 'solve' this one, there will be more to come. This is nothing to do with the broker per say: in this deal the landlord and broker are in tandem and come as a package. It is not for you to know whether the broker is acting in the landlord's best interest - you have no idea what the landlord's circumstances are or the nature of the relationship. Maybe even the broker and landlord are spouses or business partners. There is a reason why the broker manages the unit and very likely the relationship between the landlord and broker/agent is far more important than that between the laandlord and a tenant who has been there only two years.
Take matsui's advice and get the hell out. There are plenty of fish to fry. Unless your apartment is printing Benjies, paying $3500 rent is it, to deal with this hassle is truly insanity.
> There is no way they are splitting it.
There is no way to tell now is there ?
> I think the mistake is that you are seeing the landlord's world the way you see yours - your worlds mmay actually be very different and 7000 USD may not matter as much to the landlord as you think it does.
Ding ding ding, to think the landlord is actually ON YOUR SIDE is a bet I wouldn't take, not in a million year! Go back to Matsui's original post of the "unknown" value placed in the landlord & broker relationship.
> Talk to a lawyer first and then do my best to talk to my landlord directly.
I will be surprise if talking to the landlord does anything but we shall see.
"I will be surprise if talking to the landlord does anything but we shall see."
I think most LL's would be PISSED about it.
so what was the outcome? what happened?
Why not share the broker's name?
I get the impression this is an isolated case of a broker abusing their agency over a property.
While the owner is a loser, they probably will never notice or care. The tenant stands to lose the most here.
Unfortunately the only way for a tenant to protect oneself is to never pay a fee thinking that it will enable them to stay past the initial lease term. Some think "oh well it's a $5k fee so if I stay 4 years it's only an extra $104 a month". But you only buy the right to one year, so you should be comparing it to a no-fee apartment costing $416/month more.
>it's only an extra $104 a month
>you should be comparing it to a no-fee apartment costing $416/month
It's $5000. Why does it have to be compared to anything. $5000. Off of which there is no value whatsoever.
I am going through an almost identical situation. The broker wants a $500 renewal fee. He says the owner is requiring all occupants to be on the lease. The worst part is, the broker wants to charge my roommate $1000 or vacate. This has me in a serious bind.
I basically said, look I will pay you a fee for processing the paperwork, but I don't think you are entitled to any "broker's fee" because you haven't since I moved in 2 years ago. We'll see how it all goes down. Anyway, good feeling that I'm not the only person facing this kind of abusive practice. Renters need to back each other up.
Part of the issue is that there is allegedly a less than 1% vacancy rate for Manhattan apartments right now, so brokers aren't making fees. Some of the less scrupulous ones are looking for other ways to collect and this is one of them.
Your best bet is to call the state 518 474 4429 it sounds like profiteering to me.