It’s widely known that buying or selling a home in New York City is challenging and complicated, but surprise surprise — renting one can be too. With elevated rents, high upfront costs, and fierce competition, renting here is not like renting in any other city. As such, some New Yorkers decide to work with a rental agent, or broker, to help them navigate this matrix of madness. But does hiring one make sense for you? StreetEasy® has the answers to all your burning broker questions.

Manhattan Rentals Under $3,000 on StreetEasy Article continues below

Hudson Yards

407 West 39th Street

$2,700 No Fee

Studio |

1

Lower East Side

67 Eldridge Street

$2,200 No Fee

2 |

1

Hudson Yards

407 West 39th Street

$2,500 No Fee

Studio |

1

Fort George

370 Wadsworth Avenue

$1,900 No Fee

1 |

1

Washington Heights

605 West 177th Street

$1,811 No Fee

2 |

1

Washington Heights

521 West 159th Street

$1,900 No Fee

1 |

1

Manhattanville

1492 Amsterdam Avenue

$1,800 No Fee

1 |

1

Hamilton Heights

502 West 148th Street

$2,300 No Fee

1 |

1

Hell’s Kitchen

787 Ninth Avenue

$2,318 No Fee

Studio |

1

Central Harlem

210 West 133rd Street

$2,500 No Fee

2 |

1

Hamilton Heights

506 West 148th Street

$2,300 No Fee

1 |

1

Lenox Hill

1443 York Avenue

$2,995 No Fee

2 |

1

What Is a Broker?

In this context, a broker is a licensed real estate professional who handles the logistics of renting out apartments. They may also be called apartment brokers or rental brokers, but simply “broker” is common. Brokers do things like finding listings, showing apartments, and helping with applications. Simply put, they act as a middle person between renters and landlords. In New York State, brokers must pass an exam and meet certain educational requirements to earn their license.

Who Does a Broker Work For?

Here’s where things can get a little confusing. On a given rental listing, you might be instructed to contact a broker, or contact the landlord (or property management company) who then puts you in touch with a broker. This broker has been hired by the landlord, and their goal is to find ideal tenants for this particular property or set of properties. They provide services to the landlord such as marketing the apartment, showing units, answering applicants’ questions, and helping with the application and tenant selection process. In other words, they primarily work for the landlord — they don’t work solely for you.

Alternatively, as a renter you can hire your own broker who works only for you: the apartment hunter. In this article we’ll address hiring your own broker, including what they can do for renters, how to find one, and the costs involved.

Reasons to Hire a Broker

A broker’s job is to find you a suitable apartment to rent, regardless of what building it’s in. They can be beneficial if you want to cast a wide net with someone who intimately knows the NYC rental market. Brokers can also be helpful to out-of-town apartment hunters who can’t do in-person tours, people with busy schedules that make searching and touring difficult, or those who are new to the NYC market.

“[Brokers] often have the inside track on landlords, their practices, and how their leases work,” says Ellen I. Sykes, a broker with Coldwell Banker Warburg.

Brooklyn Rentals Under $3,000 on StreetEasy Article continues below

Flatbush

100 Lenox Road

$2,842 No Fee

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1

Bushwick

1222 Bushwick Avenue

$2,300 No Fee

Studio |

1

Brooklyn Heights

32 Joralemon Street

$2,581 No Fee

1 |

1

Ocean Hill

1436 Herkimer Street

$2,800 No Fee

2 |

1

Bedford-Stuyvesant

142 Macon Street

$2,650 No Fee

1 |

1

Crown Heights

932 Carroll Street

$2,155 No Fee

1 |

1

Crown Heights

1004 Union Street

$2,350 No Fee

1 |

1

Bushwick

1154 Gates Avenue

$2,675 No Fee

2 |

1

Bushwick

879 Knickerbocker Avenue

$1,900 No Fee

1 |

1

Williamsburg

56 Stagg Street

$2,500 No Fee

1 |

1

Fort Hamilton

59 Gelston Avenue

$1,850 No Fee

Studio |

1

Fort Hamilton

347 91st Street

$2,500 No Fee

1 |

1.5

Your broker will contact landlords to arrange showings for you, as well as help you apply for the apartments you’re interested in. They may also be more aggressive than you might be about asking for rent concessions and negotiating lease terms. By acting as a middleperson and advocate for you, they can save you time, stress, and possibly money as they help you find a rental you truly love.

“A good rental broker will understand what you’re looking for and know which buildings might be a good match for you. They’ll be able to weed out listings that don’t suit your needs,” says Becki Danchik, another broker with Coldwell Banker Warburg. “Nobody wants to have renter’s remorse. You should feel great about the place you’re calling home, and working with a broker can help make that a reality.”

The Cost of Hiring a Broker

If you hire a broker who successfully finds you an apartment to rent, they’ll earn an agreed-upon commission on the deal. That commission (or fee) is negotiable, but usually ranges from one month’s rent to 10-15% of the annual rent. It’s paid by you, the renter. Make sure the fee and any other terms are clearly spelled out in a written agreement before you decide to work with a particular broker.

What about the other scenario we described, where you rent an apartment through a broker hired by the landlord? Roughly half the time, the renter is still required to pay a fee to this broker (typically up to 15% of the annual rent) on behalf of the landlord. StreetEasy believes brokers provide a valuable service and should always be compensated for their work, but simply put, renters should only have to pay if they hired the broker — which is why we’re advocating for reforming NYC’s current broker fee system.

Queens Rentals Under $2,500 on StreetEasy Article continues below

Sunnyside

32-19 Greenpoint Avenue

$2,450 No Fee

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1

Woodhaven

97-53 94th Street

$2,450 No Fee

2 |

1

Briarwood

141-30 Pershing Crescent

$2,350 No Fee

2 |

1

Ditmars-Steinway

20-77 Steinway Avenue

$2,275 No Fee

1 |

1

Astoria

25-40 Shore Boulevard

$2,249 No Fee

Studio |

1

Middle Village

61-88 Dry Harbor Road

$1,700 No Fee

Studio |

1

Jackson Heights

37-51 86th Street

$1,900 No Fee

Studio |

1

Ditmars-Steinway

20-24 24th Street

$2,375 No Fee

1 |

1

Sunnyside

45-45 46th Street

$2,200 No Fee

1 |

1

Rego Park

64-48 Booth Street

$1,850 No Fee

Studio |

1

Ditmars-Steinway

21-66 28th Street

$2,100 No Fee

1 |

1

Forest Hills

110-45 71 Road

$2,400 No Fee

1 |

1

You’ll also notice rental listings advertised as “no fee,” meaning the landlord pays the broker fee. On StreetEasy, you can check the No fee box to filter for such listings. Learn more about no-fee apartments. 

For a full breakdown of fees you may encounter when renting in NYC, read our explainer or watch this episode of StreetEasy Home School on the topic.

How to Find a Broker

Word-of-mouth is a common way for New Yorkers to connect with brokers. Ask your friends, family, and extended network if they’ve worked with a broker they’d recommend, and have them put you in touch. You can also find one through a brokerage that specializes in rentals, or handles both sales and rentals (which many do).

If you have a broker in mind, search their name on StreetEasy and see if they have an agent profile, where you can learn about the broker and get a sense of their experience. Under the Active Listings tab, you’ll see their current listings — a good indicator of their activity in the market. Go to the Past Deals tab to see listings they’ve successfully rented. If they seem like they could be a good fit for your search, you can send them a message directly from their profile.

Best Practices for Hiring a Broker

A great broker can save you time, effort, and money. Here are some tips on hiring the best one for you, including what to look for and what to avoid.

• If possible, find a broker with relevant experience. Ask the broker about their previous rental deals, or check their agent profile on StreetEasy. It can be beneficial to hire someone with experience in the neighborhood, building, type of apartment, or price point you’re seeking.
• Pay attention to their responsiveness, ability to answer questions, and overall service. These qualities are essential in NYC’s complex, fast-paced rental market.
• Be wary of brokers who make you feel rushed or pressured. While brokers certainly want to close a deal, you shouldn’t be expected to make a payment right away or sign something immediately. A great broker will take the time to vet listings and walk you through the application process, so you feel comfortable.

StreetEasy is an assumed name of Zillow, Inc. which has a real estate brokerage license in all 50 states and D.C. See real estate licenses. StreetEasy Concierge team members are real estate licensees, however they are not your agents or providing real estate brokerage services on your behalf. StreetEasy does not intend to interfere with any agency agreement you may have with a real estate professional or solicit your business if you are already under contract to purchase or sell property.