What Is a No Fees Apartment?

What Is a No Fees Apartment?

A no-fee apartment is one where the landlord pays the broker’s fee directly to the exclusive listing agent on behalf of the tenant. This can be a good way for landlords to attract more renters in a tight market or when they have a particular apartment they’re trying to move quickly. find out how much

No Fees
There aren’t a lot of no-fee apartments in the marketplace, but they can be a great option for tenants who want to save money and time. No-fee apartments are usually in large doorman buildings and offer amenities like in-building gyms, concierge services and more. However, the trade-off is that the rent will be higher than it would be in an apartment with a standard brokerage fee.

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StreetEasy Expert Becki Danchik explains that “when you see the term ‘no-fee,’ it either means that the landlord is covering the broker’s fee themselves or there is no broker involved.” If the landlord covers the broker’s fee in an attempt to attract renters, they will likely bake that cost into the overall rental price of the unit, meaning tenants will end up paying for it over the course of their lease.

If you’re interested in renting a no-fee apartment, it’s best to narrow your search down to the areas of town where these rentals are most prevalent. You can also look for apartments advertised as no-fee on the side of buildings or on real estate websites, like StreetEasy and Zillow. And, if you know your neighborhood well, it’s always worth a walk around to look for apartment listings posted on the side of buildings.

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