Is it common for renters to pay a fee to a broker? (real estate)

[BarryK123]

My daughter is a college student in Manhattan, currently in a dorm, looking for an apartment for next year. She tells me there's a fee to pay a broker to find them an apartment. In my real estate dealings over the years (not NYC), it's always been the seller/landlord who paid the fee. Is it different in NYC or is she getting ripped?

[pureistheword]

It is different in nyc. Someone has it pay it but in this market, landlord has picked it up more. There are enough no fee listings out there she can ask for those only

[Chava61]

It is very common in NYC for the potential tenant to pay the broker's fee when renting an apt.

[crescent22]

Savvy people find ways around it. Call building owner directly by finding phone number. This is easier for modern buildings with management companies; harder for walk-ups.

[tpk-nyc]

Originally Posted by BarryK123

My daughter is a college student in Manhattan, currently in a dorm, looking for an apartment for next year. She tells me there's a fee to pay a broker to find them an apartment. In my real estate dealings over the years (not NYC), it's always been the seller/landlord who paid the fee. Is it different in NYC or is she getting ripped?

Up until the market crash, the renter almost always paid the fee. Now you can find buildings where the landlord pays, but it's a very recent development and I don't think it's going to last very long.

[adambos]

It is very common for renters to pay 15-20% of the annual rent to the broker. Since the market crash, fees have gone way down, however, things HAVE turned and we are starting to see fees return to the areas in the highest demand.