owner renting his apt without a broker

Just curious, why you would want to go through all that hassle? Tenants pay for the broker so you essentially can get their services at no cost to you. Broker would do all of the things you just mentioned and have experience doing so.

i dont consider it to be much of a hassle

also
i can get a higher monthly rent if tenant is not paying a broker fee

im curious, what broker firm do you work for?

its pretty frustrating when someone asked a question like:

"where's the best pizza shop in nyc"

and then gets a response

Just curious, "why do you like pizza"??????

Chris, grow up. If you are going to act like your apartment is like a pizza, you probably shouldn't be an owner. Maybe you should meet bjw who doesn't know the difference between principal and interest.

Chris - perhaps you can get more rent that way but not a given. A good broker is able to get you the rent you want AND get the tenant to pay the fee. Take a look at some of the biggest landlords in the city, those that have huge leasing offices, namely the "no fee" apartments. they tend to ask higher rents (compared to those listed by broker) because the prospective tenant doesn't pay a fee BUT do you think brokers shy away from those buildings???? No, in fact those are the buildings that they thrive on and their clients end up paying them.
I would agree with you however that in the event that you have a listing broker and he/she depends on other brokers to bring them clients (in essence having tenant pay both sides) would make it too costly.
It sounds to me like you are trying to price your apartment too high and hoping that by having not having listing broker you will find a sucker (ummm excuse me) an uneducated "consumer". if priced right a broker will rent it AND get the fee paid as i mentioned earlier.

you can contact me at info@resnewyork.com

"Tenants pay for the broker so you essentially can get their services at no cost to you. "

WRONNNNNGGGGG...

owner EFFECTIVELY pays the broker fee, since the tenant is comparing your unit to other no fee apartments.. so your 5k apt with one month broker fee will look MUCH LESS enticing to the 5.2k comparable no-fee unit up the street..

OP, it's quite easy to do this without a broker..

some tips..

tenants go on craigslist as early as the first week of their last month (ie start looking early June if their lease ends end of June)... after error and trial this is how I play it after doing it for several years as an owner..

..first 2 weeks of the month, post your IDEAL RENT.. the amount ABOVE what you'd want but are ok not getting.. this is a LL's market and you can be surprised how many are interested at this price..

..last 2 weeks of the month, IF you're ideal rent doesn't get much hits, start posting your realistic rental target...

lots of pics, post daily, 4 hits means nothing.. shoot for 10 hits .. this is a busy town, people cancel, forget to show, are too busy fcking, yada yada..international prospects and outta towners tend to look earlier so don't feel weird posting too early..credit checks, and proof of employment, tax returns (if u wanna go that far) are all faiirly easy to corroborate in this techno age.

lastly, never trust a broker.. (actually 99% to be fair to the 1% of good brokers)

Chris:

I just rented two apts that were listed with brokers for weeks without success
at rents which they claimed could not be attained, and am in the process of
renting a third. As a rule, brokers get lower rents than owners.

chris what kind of apt do you have? 2br on the UWS? :D

hi Chris,

Do not use craigslist.

I suggest you advertise on streeteasy and use the featured listing option. It is not expensive and my unit got excellent traffic and rented in less than 1 month. I only used streeteasy to advertise.

Price it fairly or expect to be negotiable. Get a deposit when someone wants the apt. If you don't they will keep shopping for a better deal, find one, and bail on you. Try to put together an application if your condo does not have an application process. See if your condo requires a first refusal as well.

Do the right thing and use a lawyer to get the lease together. Your lawyer can probably perform, or tell you the best way to perform, credit checks and background checks. If not, use the standard rebny lease, which you can find online if you are clever, or buy from their site.

As for using a broker because the tenant pays the fee... All well and good until the tenant wants to negotiate your rent to offset the pain of the ridiculously high broker fee.

Feel free to allow brokers to bring clients, but do not negotiate your rent because someone decided to use a broker.

Chris - when we looked to rent an apartment, we absolutely compared the all-in cost with and without a fee and ended up taking a great apt with a slightly higher rent but minimal fee. Money's money.

We looked primarily on Streeteasy, UrbanedgeNY and the NYT. If you advertise NO FEE on these, I can assure you you will have many hits. There is no need for a broker.

Alternatively, do most of the work yourself in terms of staging and prep and then hire a broker if you think you need one (to provide access anytime, etc.), but negotiate a very low fee and consider paying it yourself. The words "NO FEE" mean a lot to a potential renter.

Chris - where is your condo located? I am currently apartment hunting.

Hello all owners

I am trying to find an apartment without a broker (don't buy that idea). I am looking for a move in date around aug 15.

Please feel free to email me at jj0238@gmail.com.

Thanks
Julie

fsbo founder just sold via broker.

My first step would be sending it to all friends, family, facebook, colleagues, etc. and ask that they share with anyone who may be looking.

its pretty frustrating when someone asked a question like:

"where's the best pizza shop in nyc"

and then gets a response

Just curious, "why do you like pizza"??????

Umm - that is not an appropriate analogy. In your example, the person was asking for a business referral (pizza shop). A better analogy would be:

"I make my own pizza at home. I don't like buying it at a pizza shop" and then having a pizza owner clobber you over the head with all the reasons why DIY pizza isn't as good as "professional" pizza.