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Brokers for rental apartments

Started by mayorsat
over 14 years ago
Posts: 1
Member since: Jul 2011
Discussion about
I'm looking for a rental apartment/condo. When I find the rental online and call the listed broker, am I expected to pay the broker a fee just for meeting me and unlocking the door to the apartment? If a fee to the broker is the standard practice, is it a percentage? And a percentage of what???
Response by affrench
over 14 years ago
Posts: 34
Member since: Mar 2008

Since you will only pay the fee if you sign a lease, there is also her time for processing the application(s), preparing the lease and helping you jump through the hoops that some landlords require. Advertising which is not free for licensed agents and the fee (anywhere from a month fee to 15% of the annual rent) is split with the broker of record.

If you don't want to pay a fee, contact management companies directly to inquire about their current vacancies.

Althea Ffrench
Triumph Property Group
Licensed Real Estate Salesperson

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Response by mkhajahussain
over 14 years ago
Posts: 1
Member since: Jul 2011

Brokers charge a fee only after the lease is signed, there are websites like http://www.rentahop.com and http://www.citirenter.com which lists 'no fee' apartments directly from the Owners/Management companies.

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Response by hkinterested
over 14 years ago
Posts: 60
Member since: Nov 2007

Mayorsat - where are you looking? I have a converted 2 available for August 1 on the UES.

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Response by hkinterested
over 14 years ago
Posts: 60
Member since: Nov 2007

Should have been clear - no broker's fee; listed by owner.

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Response by gcondo
over 14 years ago
Posts: 1111
Member since: Feb 2009

hk, you should really pay the 50 bucks to list your property here. It helps.

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Response by hkinterested
over 14 years ago
Posts: 60
Member since: Nov 2007

In the process of doing so right now.

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Response by NYCMatt
over 14 years ago
Posts: 7523
Member since: May 2009

"am I expected to pay the broker a fee just for meeting me and unlocking the door to the apartment?"

OMG please don't give these "brokers" any new ideas!!!!!!!

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Response by marco_m
over 14 years ago
Posts: 2481
Member since: Dec 2008

"am I expected to pay the broker a fee just for meeting me and unlocking the door to the apartment?"

at least in that case they actually did something

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Response by manhattanfox
over 14 years ago
Posts: 1275
Member since: Sep 2007

reprinted - from a prior posting -

AVOID BROKERS AND THEIR FEES - GO DIRECTLY TO THE SOURCE OF YOUR RENTAL NEEDS. BROKERS TEND TO TAKE YOU TO SEE THESE NO-FEE APARTMENTS FIRST AS THEY EARN 100% OF YOUR 15% BROKER'S FEE. HUSH...HUSH... THEY WILL NOT TELL YOU IT'S A NO-FEE RENTAL PROPERTY :( NOR WILL THEY REPRESENT THAT PRIOR TO SEEING THE APARTMENT. SO IF YOU NEED TO RENT, CHECK OUT THE RENTAL PROPERTY MANAGEMENT WEBSITES AND CALL THEM FOR UPDATED LISTINGS. SAVE YOURSELF THAT 15% TO BUY YOURSELF NEW FURNITURE OR HAVE A MOVE-IN WELCOME PARTY FOR FRIENDS AND FAMILY.

Excellent %u201CBIG-TIME%u201D Manhattan Rental Property Management:

Rose (www rosenyc com)
Related Rentals (www relatedrentals com)
Equity Residental (www eqr com)
Rockrose Management (www rockrosenyc com) [mostly chelsea, village, financial district, downtown condos]
Sky Management (www skymanagement com)
Glenwood Managment (www glenwoodnyc com)
BLDG Management Co. 115 E 92nd St New York, NY 10128 (212) 722-4931
Brodsky Management, Inc (www brodskyorg com)
Maclowe Management (www macklowe com) [condos below 60th street]
Urban Associates %u2013 400 W 59th St # 3, New York, NY (212) 245-1870

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Response by manhattanfox
over 14 years ago
Posts: 1275
Member since: Sep 2007

NYbits, too.

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Response by NWT
over 14 years ago
Posts: 6643
Member since: Sep 2008
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Response by NWT
over 14 years ago
Posts: 6643
Member since: Sep 2008
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Response by manhattanfox
over 14 years ago
Posts: 1275
Member since: Sep 2007

bump

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Response by MR17_5
over 14 years ago
Posts: 72
Member since: Feb 2011

all you people sit here and bash brokers..fuc*k you then dont call us....its funny how brash and rude people are behind the keyboard....

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Response by alanhart
over 14 years ago
Posts: 12397
Member since: Feb 2007

fuck you then don't give illegal kickbacks to landlords

and meet your professional legal obligation to disclose your name and brokerage affiliation

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Response by gcondo
over 14 years ago
Posts: 1111
Member since: Feb 2009

MR17_5 is probably how most 'brokers' think.

Do the right thing and save everyone money by not using a broker. This is probably the easiest market to sell/rent a home in without a broker. Brokers are like a parasite stuck to the side of the real estate industry.

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Response by huntersburg
over 14 years ago
Posts: 11329
Member since: Nov 2010

>fuck you then don't give illegal kickbacks to landlords
>and meet your professional legal obligation to disclose your name and brokerage affiliation

Alan, the guy isn't soliciting business here.

By the way, who do you really blame, the landlord or the broker, for the illegal kickbacks? Are the kickbacks illegal if the apartment isn't under rent regulation?

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Response by MR17_5
over 14 years ago
Posts: 72
Member since: Feb 2011

i am so sick of people complaining about brokers on hear...blah blah blah we do nothing don't help anyone rip people off ect..parasites....

and no I have no reason to disclose my company/name on here I don't solicit business on this website...

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Response by manhattanfox
over 14 years ago
Posts: 1275
Member since: Sep 2007

I reprinted the management list that has been on this site many times in the last several years -- it was posted for convenience:::

"If you don't want to pay a fee, contact management companies directly to inquire about their current vacancies."

Now people have the option.

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Response by Wbottom
over 14 years ago
Posts: 2142
Member since: May 2010

rental brokers are an impediment to efficient renting of apts

do as manhattanfox says

that's what i did--saved me money and wasted time

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Response by Wbottom
over 14 years ago
Posts: 2142
Member since: May 2010

do you want to see good rental stock? or stock that is easy for your broker to get you into, and which profits them most?

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Response by NYCREAgent
over 14 years ago
Posts: 156
Member since: Sep 2010

With the exception of one or two on that list, those apartments are considerably expensive and may not be right for new New Yorkers. Also, BLDG is broker-protected meaning they do not deal directly with public except if they have an on-site for a particular building.

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Response by NYCREAgent
over 14 years ago
Posts: 156
Member since: Sep 2010

alanhart, anyone who chooses to worek with somebody who won't give their name of affiliation deserves to get taken for a ride.

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Response by NYCDC89
about 14 years ago
Posts: 6
Member since: Oct 2011

Heres a funny video on the subject of NYC apartment brokers http://www.youtube.com/watch?v=PZV5m53h_ro

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Response by rivlinda
about 9 years ago
Posts: 15
Member since: Oct 2016

The "normal" fee is 12-15%. It could be always negotiated. Friend of mine managed to negotiate 8% fee.

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