Cara Eisenpress of Crain’s New York Business reported on the results of a survey of 1,000 renters conducted in April by Rent.com. The bottom line: 4 out of 10 renters won’t pay a broker’s fee.
This isn’t news or a surprise to us. For several years we’ve been touting the benefits of renting an apartment in New York through RDNY.com – where you don’t ever have to pay a broker’s fee.
It doesn’t make any sense to pay a broker’s fee if you are looking to save serious money in the very expensive process of renting an apartment. The typical broker’s fee in New York’s better neighborhoods is 15% of the first year’s rent. Not the first month’s rent – the first year’s rent! That’s just slightly less than two month’s of rent!
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