Broker fee's unearthed
There are already so many things to consider when looking for a new apartment in Brooklyn, now you hear that the apartment has a fee? What does that mean?
Ug, we know it suck to have to pay a fee on top of the price of the apartment, but in such a high-demand rental market like Brooklyn, it is just another thing to equate to your budget.
In an effort to bring clarity to the various fee's, we'll unearth the common ones.
~ NO FEE
Obviously the fan favorite, a 'NO FEE' 'apartment means you pay the advertised price, with no additional fees. However, Some Owner's ask for various down payments up-front so that does not always mean it will be the cheapest option. Most common upfront fees we have encountered with a no fee apartment are:
- First month + 1 *refundable security deposit
- First Month + 2 months *refundable security deposit
- First Month + Last Month + 1 month *refundable security deposit
~ ONE MONTH FEE
The most common reason you come across a 'ONE MONTH FEE' is because the apartment is in a high-demand area and the Owner know it will rent, so they do not feel compelled to offer a no fee incentive.