{"id":20,"date":"2008-10-11T05:12:57","date_gmt":"2008-10-11T09:12:57","guid":{"rendered":"http:\/\/www.renthop.com\/news\/?p=20"},"modified":"2023-07-24T14:48:13","modified_gmt":"2023-07-24T18:48:13","slug":"how-much-does-an-apartment-broker-cost","status":"publish","type":"post","link":"https:\/\/www.renthop.com\/blog\/how-much-does-an-apartment-broker-cost\/","title":{"rendered":"How much does an apartment broker cost?"},"content":{"rendered":"

New York City<\/a> renters often believe they are receiving a lot of valuable services from apartment brokers, and because of that, they conclude broker fees are both legitimate and well-deserved. At RentHop<\/a>, we agree that apartment brokers (and their broker fee cost) have been vital to the Manhattan <\/a>rental market for decades, but in recent years the services have become increasingly more expensive and unnecessary.<\/p>\n

Broker Fee Cost Breakdown<\/h2>\n

To see why, let us enumerate all the services an excellent Manhattan broker<\/a> traditionally provides:<\/p>\n

1.)\u00a0 Advice on desirable neighborhoods, telling you where you should live<\/p>\n

2.)\u00a0 Mathematical assistance, calculating what you can afford given your resources<\/p>\n

3.)\u00a0 Listings data, including building addresses and landlord contact information<\/p>\n

4.)\u00a0 Apartment filtering, showing only the units that meet your criteria<\/p>\n

5.)\u00a0 Hunting companion, holding your hand through the viewing and showing process<\/p>\n

In exchange for these services, a typical broker will charge a broker fee equal to 15% of the gross contracted rent.\u00a0 For a $2,000 studio, that amounts to a $3,600 fee on a one-year lease, or $300 a month.\u00a0 That means your effective rent has actually gone up from $2,000 to $2,300.\u00a0 Of course, if you renew the lease directly with your landlord, then you won’t need to pay the broker fee in future years… but only if you really decide to stay there.\u00a0 In our experience, job changes, roommate considerations, and landlord rent hikes cause many New Yorkers to change apartments much more frequently than they expect.<\/p>\n

As we’ve mentioned on our resources section<\/a>, RentHop provides information on NYC apartments and neighborhoods. We use affordability calculations and formulas to determine appropriate price ranges, a large list of over 1000 no-fee Manhattan apartments<\/a> complete with addresses and landlord contact information, and detailed feature and amenity descriptions for each unit.\u00a0 We also assist you in scheduling appointments with management companies to view apartments with our Landlord Contact feature.<\/p>\n

Conclusion<\/h2>\n

Imagine paying a $3,600 broker fee cost every year or two for the rest of your Manhattan life. Even worse, picture feeling stuck in your current apartment because the broker fee for moving is too expensive! We provide a completely free alternative, enabling you to avoid broker fees and hop between new apartments with ease.<\/p>\n

Editor’s Note: This article has been updated to provide a smoother reading experience for readers, but the original written content has not changed.\u00a0<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

New York City renters often believe they are receiving a lot of valuable services from apartment brokers, and because of that, they conclude broker fees are both legitimate and well-deserved. At RentHop, we agree that apartment brokers (and their broker fee cost) have been vital to the Manhattan rental market for decades, but in recent […]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"yes","_lmt_disable":"no","footnotes":""},"categories":[269],"tags":[64],"class_list":{"0":"post-20","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-brokers-and-landlords","7":"tag-apartment-hunting"},"yoast_head":"\nHow much does an apartment broker cost? - Real Estate Topics, Tips, and Guides<\/title>\n<meta name=\"description\" content=\"The broker fee cost ranges from agent to agent across New York City, and services can cost renters thousands of dollars.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.renthop.com\/blog\/how-much-does-an-apartment-broker-cost\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"How much does an apartment broker cost?\" \/>\n<meta property=\"og:description\" content=\"The broker fee cost ranges from agent to agent across New York City, and services can cost renters thousands of dollars.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.renthop.com\/blog\/how-much-does-an-apartment-broker-cost\/\" \/>\n<meta property=\"og:site_name\" content=\"Real Estate Topics, Tips, and Guides\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/renthopapartments\" \/>\n<meta property=\"article:published_time\" content=\"2008-10-11T09:12:57+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-07-24T18:48:13+00:00\" \/>\n<meta name=\"author\" content=\"Lee Lin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@renthop\" \/>\n<meta name=\"twitter:site\" content=\"@renthop\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Lee Lin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.renthop.com\/blog\/how-much-does-an-apartment-broker-cost\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.renthop.com\/blog\/how-much-does-an-apartment-broker-cost\/\"},\"author\":{\"name\":\"Lee Lin\",\"@id\":\"https:\/\/www.renthop.com\/blog\/#\/schema\/person\/5877a1d4b27a98e84d9840c6aea99af7\"},\"headline\":\"How much does an apartment broker cost?\",\"datePublished\":\"2008-10-11T09:12:57+00:00\",\"dateModified\":\"2023-07-24T18:48:13+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.renthop.com\/blog\/how-much-does-an-apartment-broker-cost\/\"},\"wordCount\":389,\"publisher\":{\"@id\":\"https:\/\/www.renthop.com\/blog\/#organization\"},\"keywords\":[\"Apartment Hunting\"],\"articleSection\":[\"Brokers and Landlords\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.renthop.com\/blog\/how-much-does-an-apartment-broker-cost\/\",\"url\":\"https:\/\/www.renthop.com\/blog\/how-much-does-an-apartment-broker-cost\/\",\"name\":\"How much does an apartment broker cost? 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