226 W 150th st.
45 W 139th St
40 Pinehurst Ave.
Photo By: Mathew Henry
By Bohemia Agent David McDaniel
MYTH: You CAN’T use a real estate agent to find a No Fee Apartment.
FACT: You Definitely CAN work with a real estate agent to find a No Fee Apartment. In fact, in the last year I helped 1/4th of my clients find NO FEE apartments. “No Fee” doesn’t mean the agent doesn’t get paid. When a broker helps you find a No Fee Apartment, the landlord is paying the broker fee. You may hear real estate professionals use the term OP instead (Owner Paid Fee).
TAKE-AWAY: If using a broker always ASK if they have NO or LOW fee apartments to show. It’s always great to compare those apartments to apartments with fees so you can be better informed about all of your options.
MYTH: No Fee apartments are No Fee because there is something wrong with them.
FACT: There are MANY reasons an apartment could be No Fee. Generally speaking, landlords often agree to pay the fee when they want to make sure the apartment rents A.S.A.P. If an apartment has been on the market for a while, the landlord may decide to pay the brokers fee so the apartment can be advertised as No Fee. There are several factors that could contribute to why an apartment stays on the market longer than expected.
1. The time of year. 3 and 4 bedroom apartments, for example, are very popular in the spring and summer. But in the winter months the demand for these apartments is less and often the landlords agree to pay the fee, or partial fee.
2. There is something less than ideal about the apartment. Apartments that are 5th and 6th floor walk-ups sometimes don’t rent as fast as identical 2nd and floor units for example.
David may have been born and raised a California boy, but his fast pace and energy make him a New Yorker and heart.