Table of Contents
What does it mean when an apartment is no fee?
A no-fee apartment means the renter does not pay a broker’s fee. A fee only exists when a broker is involved. A landlord or management company may pay the fee on the tenant’s behalf, in which case the apartment is advertised as no-fee. If you sign directly with a building owner, there is no fee.
What does a fee apartment mean?
The difference between a fee or no-fee apartment is simply who is paying the broker’s fee. For fee apartments, the soon-to-be tenant foots the bill. For no-fee apartments, the landlord is the one shouldering the cost. That said, there are some no-fee apartments where the landlord is doing the showing themselves.
What does no fee on StreetEasy mean?
No-fee: If you rent a “no-fee” apartment, you usually do not pay a fee, which is also known as a “broker’s fee.” The management company or landlord will pay that fee to a broker. Fee: If you rent a “fee” apartment, you as the renter will have to pay a broker’s fee and will pay that money directly to the broker.
Where can I find no fee apartments in NYC?
Here are several websites with plenty of no-fee listings to get your apartment hunt started. Craigslist. Joinery. The Listings Project. Naked Apartments. NYBits. Flip. Lease Break. StreetEasy, Zumper, RentHop, Igluu.
Does it cost money to list on StreetEasy?
All rental listings advertised on StreetEasy are charged a daily fee. As of September 1, 2021 the daily rate, per rental listing advertised, is $6.00.
Is rent a fee?
As nouns the difference between fee and rent is that fee is while rent is a payment made by a tenant at intervals in order to occupy a property or rent can be a tear or rip in some surface.
What do you pay when moving into an apartment?
A landlord, at minimum, will most likely expect you to pay your first month of rent before moving in. But landlords may also ask for a security deposit and request that you pay your last month’s rent before agreeing to rent to you. A security deposit is usually equal to one month’s worth of rent, but may be less.
How much rent I can afford?
Most experts recommend that you shouldn’t spend more than 30 percent of your gross monthly income on rent. Your total living expenses (rent, utilities, groceries and other essentials) should be less than 50 percent of your net monthly household income.
How do leases work apartment?
A lease is a legally binding contract, laying out the rules agreed upon between the landlord or property owner and you, the tenant. It gives security to the landlord, in that it contractually ensures that he’ll have a source of revenue each month and will receive it at a specific time.
What is a leasing fee?
The leasing fee is what a property management company charges to lease up the property whether they manage or the owner manages. The leasing fee covers all the work involved in getting a home leased. This includes showing the property, screening all the applicants and finding a good tenant who will get approved.
Are broker fees worth it?
Before agreeing to pay a hefty broker’s fee, do the math to make sure it’s worth it. Paying a fee makes the most sense if you plan to live in your apartment for longer than one year. While you’ll still pay the same amount up front, it will feel like less of a financial loss the longer you stay in the apartment.
How do I avoid a broker fee in NYC?
The best strategy to avoid paying a broker’s fee is to obtain an apartment directly from a tenant already in possession under a lease. The best way to do that is to find someone who wishes to sublet their apartment for the balance of their lease term.
Can I rent an apartment in NYC without a broker?
Owners and landlords of apartments can be broken into 3 categories which comprise the majority of the apartments you can rent in NYC without a broker: There are large professional property managers who control multiple apartment buildings. And then there are individual owners of apartment units in condos and coops.
How much do you have to make to live in NYC?
Recommended Salary in New York City To live comfortably, a resident would need to earn at least $12,489 monthly before taxes. That’s pretty steep. If you chose to live in the more affordable Bronx borough, you’d need to earn three times the $2,312 monthly rent rate before taxes, which amounts to $6,936.
Is StreetEasy owned by Zillow?
Zillow acquires StreetEasy, New York City’s leading real estate marketplace.
Can an owner list on StreetEasy?
StreetEasy only accepts sale listings that are exclusive or co-exclusive. Listings may only be advertised by a real estate agent (an “Agent”) who is the contracted, exclusive listing Agent for a listing.
How do you make an agent on StreetEasy?
To create a StreetEasy agent account, please go to www.StreetEasy.com and click ‘Register’ located in the navigation bar on the top right-hand side of the screen. Once you click ‘Register’ you will see the option to input your email address and create a password (the password must be at least 5 characters).
