Landlord's Broker's Fee (Scam?)

[silverbullnyc]

I believe some people are misunderstanding certain parts and are basing posts on some misinformation. Some landlord/management companies are brokers and do charge fees when you do rent directly to them. Sometimes in those cases it is 15%-18%. If an agent from another company rents the place then the brokers fee would be lower. Also when you are getting a no fee apt from a landlord/management company it can be $150-$300 more in monthly in rent then if rented from an agent. Depending on the fee negotiated it would actually cost you more at the end of the yr getting a no fee apt. Landlords/Management companies are charging you a fee, some people just dont realize how lol.

Renting directly from management companies only sounds good on paper but as i said before most regular folks dont really know what exactly is going on behind the scenes. I LOL many times in threads that involve people who havent rented an apt here in the city in over 10yrs (different set of rules) or people who dont really have experience giving advice on what they assume things are.

Of course with that said their are exceptions of course.


Personally to the OP, i wouldnt move forward since you already have bad experience to begin with.

[annachry]

I had to pay a 17% broker's fee. The only reason I did it was because it was a rent stabilized apartment in Manhattan, and everyone involved knew if I didn't pay it, everyone else would be clambering to.

Still absurd though. What a way to undercut affordable housing laws.

Anyway, you're not in a similar position at all. I wouldn't pay anything.

[livingsinglenyc]

I know a girl who lived in her apartment for around 5 years and needed to switch to a smaller apartment. The management said she could but she was still required to pay a brokers fee. Some buildings just require it from everyone, no matter what.