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Old 02-01-2010, 09:42 AM
 
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I am considering renting an apartment in Manhattan. However I needed to find out what utilities (water, gas, lights) would I be normally responsible for and when they ask about Fee/No Fee, what does that mean?
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Old 02-01-2010, 10:29 AM
 
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Fee/No Fee refers to broker fees. When their is a broker fee, that means you are responsibile for paying the broker's commission, which can be something like 10% of the annual rent. So if the rent is $2,000/month, that would be $24,000/annually, so your fee would be $2,400 that you would be responsible for paying. You should start with No Fee apartments first, as those fees are generally paid by the management company/owner/landlord so you do not need to worry about it.

As for utilities, it can change depending on the building, but as a rule of thumb, you will generally be responsible for your own gas and electric.
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