Fee vs. No Fee Rental Apartments

When demand for NYC rental apartments is as high as it is now, apartment rents, along with broker’s fees, can get ridiculously high. Anyone who’s ever taken economics knows that high demand drives up prices, and currently in NYC, continually high demand has resulted in both brokers and landlords seeing just how high they can make renters go. When you decide to move forward with an apartment, you will typically have to pay first month’s rent and one month security upfront. Along with broker’s fees, these upfront costs can be a huge issue for many renters. Even with record high prices, though, bidding wars are still common, and oftentimes, brokers will underprice an apartment, just so they can host a super busy open house and drive the prices right back up. It isn’t fun out there for renters right now, especially when they’re going at it alone.