Miscellaneous (Renters)

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What are typical broker fees when renting an apartment?

Broker fees for a standard one year lease can typically range from one month’s rent (8.3%) to 15% of the annual rent.  The amount is usually arbitrary and is either determined by...

If I have a low budget and want to live in a rental apartment in Manhattan, what can I do?

Although living in Manhattan can be very expensive, there are ways to reduce your costs and find an apartment that you may be able to afford.  Several ideas include finding one or...

What does it mean when a rental listing online says “No Fee”? How does working with an agent affect the situation?

A “No Fee” listing means that you can go directly (without an agent) to the landlord / management company / exclusive agent who posted the listing and not have to pay a...

When is the best time of the year to get good deals on apartment rentals?

The rental market in NYC is seasonal with the hottest time during the late Spring and Summer months, primarily from April – September.  During this time, demand is high and supply is...

What rental forms or documents should I expect to sign when working with a real estate agent?

There are numerous forms and documents that you should expect to fill out and sign throughout the entire home search process.  Some are for the benefit of the agent / brokerage firm...

What is a rental guarantor and what is the guarantor responsible for?

What are appropriate tip amounts during the holiday season (end of year) for building staff in a rental building?

If I’m working with a broker, at what stage of the rental process should I discuss the amount of the broker fee?

You should ALWAYS discuss and agree upon the amount of the broker fee upfront before starting to work with an agent (including before you view any properties).  You should not put yourself...

How much is my landlord allowed to increase my rent at the time of lease renewal for my rent-stabilized apartment? Is there a standard percentage or range?

What are some strategies for effectively negotiating down a rent increase with my landlord at the time of lease renewal?