- Beginningyour Search
- understandingFee vs. No-Fee
- applying andlease signing
- Renting inNEW YORK CITY
A fee is the dollar amount owed to a broker when he or she helps you find an apartment. The fee can range from 8 percent to 15 percent of the full year's lease. If the broker says the fee is one month's rent, that's the same as saying it's 8.3 percent of the full year's lease. One month = 8.3 percent of 12 months.
Some brokers will negotiate their fees. It's absolutely worth trying. Just make sure you negotiate at the beginning of your working relationship, not after you've put in an application on an apartment!
Dead set on not paying a fee, but want the help of a broker? Adjust your budget to account for the fee and you'll have a lot more apartments to choose from.