Apartments for rent, includes broker fee.

[ericlee]

Has anyone paid a broker fee? What kind of benefits can you get with a broker?

We've decided to stay in NY- Brooklyn. Just renting for now because the wife and I may not want to buy a place in the area and we might move to and buy a new house out of NY because we sat and talked about how much cheaper it is to buy a place in maybe Ohio. I've got friends that have stayed in my hometown and have bought 2 story huge houses for like $100,000. That same kind of house could sell for almost a million in NY.

We both have decent jobs and want to live here a little longer but just rent an apartment. We looked for a second time at this place in Brooklyn today and I love the apartment so much. 2 huge bedrooms, ocean view from our window and the neighborhood is so peaceful with a park just across the street.

The paperwork was signed and then the guy said, "We're brokers so, you'll have to pay the first month's rent, deposit and one month broker fee".

The broker fee was something that we didn't even know about till afterwards and it's gonna keep me from moving in this place and I sooo badly want to live there. It's in the process of being renovated and will be complete by July 1st.

Bagghhh.

[Yeti]

ericlee, I looked it up and it must be a NY big city thing. It sounds like a brokers fee is paid for their help in finding and signing for the rental. I have paid real estate broker fees when buying a house but never for an apartment. It sounds like the broker will collect your $ and then you will never have to deal with them again. Here is what I found...........

Brokers can give you an overview of the market, guide you in your search, and facilitate the paperwork for you. Some landlords list apartment availabilities exclusively through brokers.

Brokers charge a commission for their services. In Manhattan, expect to pay between `12%-15% of the year's rent. That means if your rent is $1,000 a month, the broker's fee works out to $1,000 x 12 x 15%, or $1,800. Fees outside of Manhattan are usually less, ranging from one month's rent to 12% of the year's rent. The fee is payable only at the time of lease signing. OCHA maintains a list of real estate brokers, many of whom will give a discount on their fees to CU students and affiliates. The larger firms have Web sites where you can search their listings in advance of contacting them. You can also check their most updated listings in the classified ads in The Village Voice, The New York Times and LOOT. Don't forget to ask if a student or Columbia corporate discount is available.

[ericlee]

Yeah so in all honesty, I'm not gonna benefit from giving this guy some money.

Firstly, he didn't help me find the apartment, my coworker did. This broker really didn't help at all. Just showed me the apartment and gave me an application.

Chea, I'll pay him $1,150 for absolutely nothing. Worst part is, I probably will. That apartment is just too damn nice and the area is so quiet and peaceful.

[YoungRemy]

fuck broker fees...

just keeping looking on craigslist until you find something listed by an owner or landlord..

no one should have to put up the equivalent of four months rent to move in a place... i did it once, and I got a rat-infested shithole in Spanish Harlem...

eric, check your PM, I am going to send you the number of my last apt manager in nYc, she found us a 3 bedroom loftspace in the Upper East Side for a very good price, no fee... only deposit and first month...

check if they have anything in BK