Rentals in New York>Question Details

bleahycbi, Renter in New York, NY

my daughter is looking for a 3 bedroom she has 2 room mates what would the broker fee be if the apartment rent is $2000

Asked by bleahycbi, New York, NY Wed Jan 8, 2014

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Ask the agent/broker the question beforehand; commission is always negotiable there are no set standards, therefore it varies....
3 votes Thank Flag Link Wed Jan 8, 2014
Those of you quoting "typical" commission fees really need to read up on the Federal Anti Trust laws......

The only legal response to this kind of question is "all commissions are negotiable"..........there is no such (legal) thing as a "typical, usual, standard, customary or expected" commission!

To state otherwise may be seen as an attempt at price fixing, even if that wasn't the intention.
1 vote Thank Flag Link Wed Jan 8, 2014
There is no such thing as a "Usual" fee. It just doesn't exist. All commissions are negotiable. Before you go out and look with a Broker, you will have signed off on an Agency Agreement and a Commission Agreement. Good luck.
1 vote Thank Flag Link Wed Jan 8, 2014
Hi there!
The fee isnt determined by the agent. Its determined by the listing. If the listing belongs to another broker (co-broke) then the fee is usually a full 15% of 1 year (in this case, 15% fee would be $3,600). In the event that the listing you choose, apply and are approved on is open (no other agent's exclusive) then fee may be negotiated or in some cases, the owner may pay broker fee (common during winter months). In other cases, owners may give out other incentives such as 1 months rent free. Really depends on where you apply and who you are working with.

Eric Rohe
CITI HABITATS
400 E 84 St
New York, NY 10028
201-328-2758
Erohe@citihabitats.com
1 vote Thank Flag Link Wed Jan 8, 2014
Commission is not always negotiable, it depends on the agent and what they believe their value is just like any other profession.
1 vote Thank Flag Link Wed Jan 8, 2014
Generally, in Manhattan the brokers fee would be 15% of the first years rent. On a $2,000 a month apartment it would be $3,600. Have your daughter always ask if the building owner is offering any concessions.

If I can be of any assistance please don't hesitate to contact me.

Best of Luck.

Ray Yahnke
Citi Habitats
ryahnke@citihabitats.com
c: 917-406-1059
1 vote Thank Flag Link Wed Jan 8, 2014
Broker's Fee is always negotiable, will all her room mates be using Guarantors?
1 vote Thank Flag Link Wed Jan 8, 2014
bravo - correct answer!
Flag Wed Jan 8, 2014
I think you should talk to a broker about that. I know that there are apartment finders that almost let you see everything that you might want to ask. I bet if you searched the type of apartment that you are looking for, you may also get the fee that you would also be paying. http://www.austinapartmentsnow.com/Search_Austin_Apartments.html
0 votes Thank Flag Link Fri Jan 23, 2015
A typical broker's fee would be $3600. That's why you might want to consider saving the broker's fee by going with a no fee apartment finder service such as RDNY.com. Their inventory is very good and you won't have to pay a broker.
0 votes Thank Flag Link Thu Jan 23, 2014
The typical Brokers Fee in Manhattan is 15% of the first years rent .. that would equate to $3600 on an apartment rented for $2000.

Best of Luck
0 votes Thank Flag Link Thu Jan 23, 2014
Please call me for assistance. My name is Erika and I can be reached at 917-335-8569. Thank you and good luck.
0 votes Thank Flag Link Thu Jan 23, 2014
If your daughter is looking in Manhattan or in one of the prime neighborhoods of the boroughs, the fee will usually be 15% of the first year's rent - which in this case would be $3,600.

If you daughter is looking in the boroughs, and it's not one of the top prime neighborhoods, then the fee will likely be one month's rent.

May I suggest that your daughter take a look no "no broker fee" apartments - which are the same apartments brokers rent for a fee. But if you know about the apartment and don't view it with a broker, there is ZERO broker's fee. Take a look at the listing on RDNY.com (RentDirectNewYork.com).

Good luck to your daughter and her roommates.
0 votes Thank Flag Link Thu Jan 9, 2014
"Usually," "Top Prime neighborhoods." You've possibly admitted to collusion and discrimination all in one response. Bravo.
Flag Thu Jan 9, 2014
It typically ranges from one month to 15% of the annual rent. They might be able to find something with no fee, but at that price point it might be difficult
0 votes Thank Flag Link Wed Jan 8, 2014
you might want to read up on the federal anti trust laws.....the only legal response is "all commissions are negotiable".....to state otherwise can be perceived as an attempt at price fixing, even if that wasn't intended!
Flag Wed Jan 8, 2014
The brokerage fee is generally 15% of the annual rent of the apartment. Sometimes a broker may negotiate or charge a flat fee for a rental. There are some instances where the owner of the apartment or the landlord pay the brokerage fee.
If there are 2 brokers involved the fee is split between those brokers.
I am happy to personally answer any question you may have. Please feel free to email me at mportnof@crrnyc.com
Michele Portnof
0 votes Thank Flag Link Wed Jan 8, 2014
15% of the one year rent ! which is $ 2600
0 votes Thank Flag Link Wed Jan 8, 2014
Math off a little Fariborz.
2K per month rent yearly is 24K x 15% is $3600
Flag Wed Jan 8, 2014
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