Miscellaneous (Renters)

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Is 15% of the first year’s rent the standard broker fee for a rental apartment?

Technically, there is no “standard” broker fee for rental transactions.  15% is generally the maximum that an agent will charge for his or her services and tends to be a starting point...

Which utilities are generally included in the rent for an apartment?

The majority of buildings in NYC provide their tenants with water, gas and heat (non-electric), included in the rent.  Electric, internet, cable and phone are typically not included and are the responsibility...

Are broker fees for a rental apartment negotiable?

Yes.  By law, broker fees in New York are negotiable.  However, there are two sides to a negotiation and both parties must be satisfied with the agreed upon amount or there is...

What should I look for when selecting a real estate agent to help find an apartment rental?

There are a number of factors that go into finding a quality real estate agent.  When searching for your next home, you’ll want to use the services of an agent who will...

Are there certain situations where I use a real estate agent to find a rental apartment, but the landlord pays the broker fee (no fee to me)?

Yes, but only under specific circumstances.  Similar to any other service provider, a real estate agent performs a service for the benefit of a consumer (client or landlord) and expects to get...

Which neighborhoods in Manhattan offer the best values for rental apartments?

Finding a “good” value in Manhattan is kind of an oxymoron for most people; however, there are specific neighborhoods where you can certainly get a good deal relative to the rest of...