You need to join in order to access the site and you can only post for the neighborhood you live in. So if you wanted to ask if there are available apartments in a particular building or area in order to move near a friend or family member, you could ask them to post on your behalf. Good for: Browsing apartment listings by video instead of photos. Frele, from the founder of Leasebreak more about that site later , launched in In response to the pandemic, the site focuses on showing listings with videos rather than photos—which may give you a better sense of the space, however the site does have thousands of listings with photos.
There is a no-fee filter that you can use on the top right of their page. Out of their roughly 10, listings, 73 percent are no fee. Out of those, 68 percent are in Manhattan, 24 percent are in Brooklyn, and 6 percent are in Queens. The site uses the same algorithms as Leasebreak to detect scams and prevent scams from being posted on the site. In addition, it has an extra layer of security: The site is manually checked for listings that appear suspicious. Good for: Searching for apartments with very specific features.
Real estate start-up Gobii, formally Igluu, allows users to filter their searches for no-fee listings. Twenty percent of Manhattan listings are no fee, 3 percent of their Brooklyn listings are no fee, and less than 2 percent of their Queens listings have no fee. Gobii also has a partnership with Insurent , which serves as a guarantor for renters who need one, and users can browse listings for which Insurent can guarantee the lease.
Other filters include proximity to specific subway lines, days on market, amenities like bike storage and roof decks. Another useful feature is the ability to search not only by neighborhood but by specific boundaries: Users can specify that they are looking for apartments to the south of a particular street, for instance. The search results page leads to an interactive map, and individual listings include the exact address of the apartment, its amenities, and information about the exposures.
Each listing also rates the condition of the building, though there aren't further details on how those ratings are determined. Gobii aggregates its listings from MLS data feeds and verified landlords can also post listings. Good for: Short-term rentals and sublets. Taking over someone's apartment is a surefire way to get around having to pay a broker fee and get a deal if you don't need a long-term lease.
Renters who need to get out of their lease list their apartments on Leasebreak, so leases here are for less than a year, which can be helpful if you're in between jobs, cities or just looking to try a place out for less time.
And if you like the apartment, there's usually a chance you can renew the lease—meaning you'll score a new lease with no broker's fee. According to Leasebreak, 75 percent of its listings are no-fee. There are about 3, short-term listings at any given time, and around 8, listings with month leases.
Short-term furnished rental companies like Furnished Quarters also post listings on their site. Listings are searchable by how long you want a place as well as move-in and move-out dates. They have also added a new filter to search exclusively for apartments with virtual or 3D tours. Good for: Vetted listings for artists and creative types. Listings Project is a weekly email list that's carefully curated by Stephanie Diamond and her team, catering to artists and other creative types searching for everything from studio space to sublets to long-term rentals.
There are to listings posted on the site each week, all of which are no-fee and personally vetted by staff through direct correspondence with posters. The site started small, but has expanded to much of the U. The weekly email has also evolved over the years, and become increasingly easy to use.
The benefit for prospective renters is huge: They can trust that each listing has been vetted by the team. Brokers, apartment managers, and third-party services are not permitted to submit apartment listings.
Diamond says the service is vital to supporting the arts community. Some New York City landlords offer a free month or more at the beginning or end of a lease.
The advertised rent is the net effective rent. The net effective rent is less than the amount you will actually have to pay known as your gross rent during your non-free months. Brick Underground's Gross Rent Calculator enables you to easily calculate your gross rent, make quick apples-to-apples comparisons between apartments and avoid expensive surprises. All you'll need to figure out your gross rent is 1 the net effective rent, 2 the length of your lease, and 3 how many free months your landlord is offering.
To learn more about net effective versus gross rents, read What does 'net effective rent' mean? If the landlord is offering partial months free, enter it with a decimal point. For example, 6 weeks free rent should be entered as 1. Localize uses artificial intelligence-assisted technology to sift through the data available on buildings and neighborhoods and set highly specific search parameters.
Localize says its use of fraud detection and manual checks keeps scams and bait-and-switch schemes off the site. Of the 3, to 4, no-fee listings on the site, typically about 25 percent are in Manhattan, 20 percent in Brooklyn, and 15 percent in Queens. Good for: No frills with quality control. Learn about how commissions govern the way real estate agents operate in the city and why renters are often held footing the bill.
Discover how you benefit from a real estate agent's commission. But, with over 27, agents in NYC, the competition is fierce. So how exactly do NYC agents make their money? Most NYC real estate agents are independent contractors. This means: Agents receive no benefits Agents must pay for taxes out of their commissions Income can be inconsistent Agents also have to pay additional fees, such as for: Commission splits see below All marketing, such as advertising listings online Agency resource and desk fees REBNY or any similar real estate board membership dues.
How Do Commissions on Rentals Work? What Are Exclusive Listings and Co-brokes? Other Commission and Brokerage Structures Brokerage structures are as diverse and complex as the real estate industry itself. Who Pays the Agent's Commission? For example, the apartment may have been on the market for a while. What Does the Renter's Agent Do? The maximum commission paid should be one month's worth of rent. So, the moment you can maximize as an agent is on direct deals.
This measure passed much to the chagrin of many industry professionals. In a usual NYC real estate sale, the commission is split up in four ways among the following stakeholders: 1. The listing agent 2. The listing broker the agent works for the broker 3. Explore More Topics. Yes No. Main Menu Find Properties for Rent. Main Menu Insurance overview. Main Menu Credit Score. Main Menu Kitchen.
Main Menu Best of. Login to PropertyNest. Sign Up. Login with Email. Sign Up for PropertyNest. Looking to rent or buy Looking to rent out or sell You are:. Password again. Have an account? Sign In. Forgot Password. The exact rental broker fee varies by listing in NYC based on the commission agreement negotiated between the landlord and the rental broker. The rental broker fee is usually payable on the day you sign the rental agreement , along with the security deposit which is legally capped at 1 month of rent in New York City.
While broker fees are typically non-negotiable for less expensive apartments, it may be possible to negotiate down the fee for more expensive, luxury units. The reason why renters in NYC typically pay the broker fee is due to market demand dynamics. Simply put, limited apartment inventory in NYC and robust demand from renters lets New York City landlords get away with having the tenants pay the rental broker fees. Keep in mind that you do not need your own broker to rent an apartment in NYC.
Learn More. Rental brokers in NYC have a bad reputation because of the seemingly high broker fees being charged relative to the work it takes for a broker to actually rent an apartment. While not all rentals are easy tasks for brokers, the truth is that some apartments more or less rent themselves. In most cases, the listing agent on a rental is a Licensed Real Estate Salesperson or a Licensed Associate Real Estate Broker who is associated with a real estate brokerage firm.
When a listing is rented, the rental broker commission is split between the listing agent and the brokerage form based on a pre-agreed commission split arrangement.
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