Broker fees in NY?

Asked by rollid (98

) February 14th, 2009

My boyfriend and I are moving from Seattle to New York (probably the Brooklyn area) this summer and we’ve heard a lot of horror stories about how much it costs/how much work it is to move into an apartment. I was hoping that anyone who has been through the process could enlighten us a little bit. We are fully prepared to pay first/last/security and to search for up to a couple of months, as that’s the way things are around here, but what additional fees are we to expect? I’ve heard someone mention broker’s fees, but it looks like you can avoid those by checkin the “owner only” option in the craigslist apartment search. Am I delusional? Is it really that much harder to find a place in NY?

Observing members: 0

Composing members: 0

2 Answers

Yes. Decent, reasonably-priced apartments in neighborhoods that are safe/fun/easily accessible to public transport are at a premium here. Broker’s fees can be anywhere from 10–20% of a year’s rent. People who get apartments through brokers do so because they don’t want the hassle of looking and are willing to pay to avoid that hassle. You’ll do best outside Manhattan, but the upper, upper reaches of the isle may yet have a few good deals.

Ask every pal you’ve got here to keep an eye out and to let their friends know. I found my current apartment that way. Good luck!

aprilsimnel (30754

)“Great Answer” (0

) Flag as…