Fees associated with apartment hunting. (Boston, Cambridge: real estate, apartments, lease)

[meeya]

Hi,
My husband and I are moving to Boston this August for his work. We're planning on visiting Boston in July to find a place to live.



First, we're wondering what sort of fees are associated with finding an apartment. For instance, I saw on craigslist something about "apartment fees". What does that mean?

Next, If we find an apartment, what sort of documents or papers should we bring with us inorder to secure it.

I hope someone could help me with these questions and I thank him/her very much.

[xS☺B☺s]

Originally Posted by meeya

First, we're wondering what sort of fees are associated with finding an apartment. For instance, I saw on craigslist something about "apartment fees". What does that mean?

Next, If we find an apartment, what sort of documents or papers should we bring with us inorder to secure it.

I hope someone could help me with these questions and I thank him/her very much.

HI Meeya,

"Fees" is Boston means the amount of money you pay in cash to the realtor who finds you an apartment. It is usually = 1 month's rent. Sometimes they'll take a half sometimes they want two. Check into it and if possible, avoid using a realtor and contact the properties directly.

Typically you need money - 1st month, last Month, security deposit. Dunno what else. They'll interview you. They might check your credit or verify your employment.

[RemiJP]

I found my current apartment through an owner's ad on Craig's List. This was a much better option, no realtor fees, only first month's rent and a $500 security deposit. It's been such a positive experience. I hated looking for places with a realtor, the ones I've encountered showed me places that weren't the size we specified, or in the neighborhood we wanted in addition to asking for a full fee.

[MagicTouch]

I found my place on rent.com, but I did go to craigslist first. Why pay someone that much money when you can do it yourself with a little research and some leg work. My apartment was $500 deposit and the rent was due on the first of the month. You can also go to Boston.com and there are other places to look as well.

Where will your husband be working?? What are you looking for?? Do you have children that will be going to school?? What is your budget??

If you give this information the people here on this forum will help you on what areas to look into and the areas to stay away from.

Best wishes to you on your relocation efforts.

[TTJenLynn]

Hi Meeya,

I am moving to Boston in July, so I have been looking for apartments for the last few weeks. I just signed a lease at Park Lane Seaport in South Boston, and was able to by-pass the "realtor fee" by touring the apartment without a realtor. Generally a "realtors fee" or "full fee" is the amount equivalent to your 1st months rent. This fee is basically commission for the realtor since they provided a service of finding a apartment for you. When you search for apartments on craigslist make sure to select "no fee apartments". If you do decide to use a realtor tell them up front you are not interested in paying a "full fee", and usually they will have apartments to show you where the landlord will pay them the fee.

When I filled out a application for my apartment I just needed my Drivers License, phone #/address of my previous & current employer, SS#, and wrote a check for my security deposit.

I hope this information was helpful, and good luck with your apartment search!!

Jen

[Jebba17]

Hello,

I just searched for an apartment in Cambridge and did go through a company. I paid a "half-fee" meaning that I paid half month's rent while the landlord paid the other half. I was lucky in that my company covered this expense. I would check to see if your husband's company offers this type of help.

Depending on the location that you are looking to live, apartments may go incredibly fast. For example, I made many calls on apartments that were gone within the first two days of their listing. For this reason, it may be worth going through a broker. They have the information necessary to find the type of place that you are looking for, but it can get expensive. It depends if the service is worth it to you.

All the best!

[kmzaxa]

You should have your hiring letter ( if applicable) for your new job, as well as current phone numbers for landlord/management company. Also, don't forget your check book; you would be surprised how many people don't bring their checkbook when looking for an apt. Will depend on the circumstance, some may take a personal check, while others will want cleared funds. All real estate agencies in Boston charge a month fee. Places like Parklane pay the broker fee, thus becoming a no fee apt. In the summer, many landlords/property managers stop paying the fee since it's so competitive. Someone else made the suggestion, check with both your employers to see if they pay the fee, especially if you are being relocated. Craigslist is a great idea, though there are many landlords who can'tbe bothered with the process and rely on realtors. A good agent won't show you things that don't meet your search criteria, or exceeds your budget. Make it clear if you expect heat to be included in your budget. Heat can be pricey,particulary in older brownstone type places. If you use an agent, expect to pay 3 months upfront: first, last and/or security and a one month fee. The exceptions are the highrises.

[meeya]

Thanks for the feedback everyone!

One more thing I wondered is whether you would usually have to pay for all these fees right when you 'pick the place' (e.g. 2 months rent + secrity deposit)? Or would they let you pay just the deposit, and the rest as you get closer to the actual start of your rent period?

Also, would some take a credit card, or is personal check typically the only option?

[kmzaxa]

Typically you will submit one month deposit with your application, and then upon approval the balance is due. Some landllords will let you spread out, but most places that are managed by a company will expect the balance right away. It's very rare for credit cards to be accepted, so I wouldn't plan on it. Make sure your inital deposit is refundable should you not get the place or if you change your mind within 72 hours. In MA, youhave 72 hours to withdraw from a contract, but not all places give your deposit back.