Metropolis Apartments is a full service New York Real Estate Brokerage. We offer a wide selection of no fee apartments NYC.
For over 18 years we have offered one of the largest selections of NO FEE APARTMENTS NYC rentals in New York City.
NO FEE APARTMENTS NYC DEFINED
We often hear from our clients, “Don’t show me any no fee buildings.”
Well, every building in New York is technically a no fee building. This is because, by law, landlords cannot charge a broker fee. If a would be tenant can find out about a vacancy, gain access to it, know who to contact to make application, have the application considered and approved by the landlord–then the apartment can be rented as a no fee apartment in NYC .
No Fee Apartments NYC: Find out about a vacancy
Prior to the advent of the internet, it was virtually impossible for renters to find out about vacant apartments. The brokers had all the information. Only a few landlords advertised in the newspapers. Without a connection or a lot of luck there was little chance of finding no fee apartments NYC.
These days a lot of landlords have websites and advertise on line, but not all. There are many landlords who do not want to deal directly with the public to take applications. These properties are listed with brokers, either as open listings or as exclusive listings.
Broker Exclusive Listings
A broker exclusive listing is an apartment listed exclusively with one broker. Most likely a broker fee will be charged and it will probably be the traditional 15% of the yearly rent. This is not a source for no fee apartments NYC.
These are apartments that are listed with no particular broker and therefore are considered to be “open” listings. Open listings might be listed with a short list of brokers or with virtually all brokers. Some of these landlords advertise their properties and therefore can be no fee apartments NYC. This is where it can get tricky as far as the broker fee is concerned.
Some apartment hunters believe that buildings that advertise no fee apartments NYC are necessarily no broker fee.
If a tenant rents an open listing apartment shown by a broker, then that broker will expect to be paid a broker fee. Often the broker fee in this case will be less than the full 15% of the yearly rent.
The fact that the tenant could have known about the apartment and rented from the owner (no fee) does not negate the broker fee.
Most brokers have their clients sign a “Broker Fee Agreement” which states this fact and these agreements are usually upheld in Civil Court.
OP Listings (Owner Paid)
An OP Listing can be either an exclusive or open listing where the landlord pays the broker fee. This is the case when a broker advertises an apartment as a NO FEE APARTMENTS NYC.
The tenant rents through a broker but pays no broker fee.
This is the best of all worlds for everyone (tenant, landlord and broker) as the tenant enjoys the services of the broker for free. The broker earns a commission. The landlord gets a tenant. Everyone wins!
LARGE SELECTION OF NO FEE APARTMENTS NYC
Metropolis Apartments is a full service Real Estate Brokerage in Manhattan with over 18 years of experience throughout New York City. We offer one of the largest selections of No Fee Apartments NYC in New York City.
At METROPOLIS, many of our landlords pay us an O.P. (Owner Paid) broker commission. In this case we offer Manhattan No Fee apartments . Initially, we will make every effort to find you a NO FEE apartment in Manhattan which will meet all of your desired criteria. In addition, we also dig around to find the next best alternative that makes sense to you. The broker fee can range from less than a month’s rent to 15% of the yearly rent. We’ll review the details for your choices of Manhattan No Fee apartments .
TO PAY A BROKER FEE OR TO NOT PAY A BROKER FEE…
That is the question. Some apartments that require a fee are the best deals in town. How so? Because for some no broker fee apartments, the broker fee is loaded into the rental price by the landlord (to offset the cost of paying the broker commission) . When it comes time to renew the lease, the base rent of the first year will be reflected in the renewal price. However, when a tenant pays a broker fee it is paid only once. If the broker fee was loaded into the rental price you could in effect, be paying that broker fee again, every time you renew the lease. If you plan to stay in a Manhattan apartment rental for more than one year it makes sense to rent a cheaper apartment and pay the one time broker fee.
Options for Manhattan No Fee Apartments
Many of our landlords also offer rent concessions instead of a broker O.P. (resulting in Manhattan no fee apartments). You will pay a broker fee for an apartment with concessions but you could enjoy up to three months free rent in the first year. It makes sense to consider the net effective rent when comparing options. Browse our listings for NYC or Manhattan no fee apartments.
Excellent Service, Quality Apartments, No Broker Fee
We do everything we can to find and negotiate the best deal for you, all things considered. Our closing department has years of experience in negotiating deals. Metropolis offers a broad selection of Manhattan no fee apartments as well as excellent customer service. Metropolis enjoys many long established relationships with the best NYC landlords–an essential element in landing the best Manhattan no fee apartments for you.
Whether you rent Manhattan no fee apartments or a for fee Manhattan apartment rental from Metropolis you will be getting one of the best deals in town.
At METROPOLIS we offer a large selection of Manhattan No Fee Apartments.
Many landlords in Manhattan, large and small, have found renting through METROPOLIS to be an absolute pleasure. Our high level of integrity and attention to detail ensure a smooth qualification process of prospective tenants. Our reputation among the landlord community of Manhattan is solid and we are happy to provide many references to any landlord considering METROPOLIS REAL ESTATE OF MANHATTAN.
Headed by Tom Ripellino, our Closing Department is second to none in New York. Tom has a real talent for bringing parties together and getting the deal done. He insists on full disclosure from all parties and keeps our agents to a strict standard of integrity and honesty. A stickler for detail, Tom insists that once the paperwork procedure has been established with a landlord, it is followed to the letter on every deal.
Our close contacts with Human Resource Departments in many Fortune 500 companies as well as our comprehensive internet marketing strategy ensures us a steady stream of top notch rental candidates throughout the year. Many of our tenant prospects are over qualified for the apartments that they rent.
Through our proprietary website, ReloNYC.com we have successfully targeted the corporate relocation market of apartment seekers. Our clients come from the right demographic: they shop on the internet, they are in the middle to high income bracket and they have excellent credit ratings. Just the sort of person a landlord is looking for.
We offer wide exposure for landlords with rental vacancies through a multi-pronged marketing approach taking advantage of synergies created by combining traditional advertising with cutting edge web techniques. METROPOLIS advertises extensively in various print media as well as through websites such as NYTIMES.COM. We also advertise through four of our own proprietary websites and through the New York sections of various national real estate websites. The result is that the phones never stop ringing, METROPOLIS agents are never idle.
At METROPOLIS we are tirelessly dedicated to the recruitment and training of our agents and brokers. At a staff of over 50 agents and growing, our team operates like an efficient machine of call handlers and apartment locators. Our agents show a preference to our listing landlords and maintain high standards of integrity and efficiency at all times. Put our team to work on your vacancies. We will get them filled quickly and with great tenants before the end of the month.
It is a good idea to begin your New York City apts for rent search four to six weeks before you actually want to move in to (or start paying rent). Most landlords list their vacancies for one month before the occupancy date. Often you will be able to view a similar unit in the building if access is not possible for the actual apartment coming up. Many landlords will allow you to apply for a New York City apartment rental sight unseen, allowing you to get a jump on the competition. It’s a good idea not to sign a lease until after you have seen the actual apartment that you will occupy.
How to Compete for New York City Apts For Rent
Competition for a New York City apts for rent can be intense, especially for a really good deal. It is highly recommended that you prepare yourself to move as quickly as possible. Most landlords will not hold an apartment for you without a completed application. If you submit a partial application (missing some of the required documents) someone else could end up with your apartment!
Housing laws in New York City apts for rent favor the tenant. Therefore, landlords require a very thorough application process which at times can seem somewhat intrusive. Here is what you will need to prepare:
[tabby title=”Money”] 1. Prepare to have the first month’s rent and one to two months’ security deposit available in a New York City bank. Most landlords expect rent and security in certified funds at the time you make the application. If you are from out of town, make arrangements to have your money immediately available. Ask your bank for wiring instructions if you think you will need to wire money from an out of town bank. You should also expect to pay some sort of processing fee, usually $50 to $100 per applicant.
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2. The landlord wants to see proof of how the rent will be paid. Have ready the following: — Last two years’ tax return. — Last two years’ W-2 or 1099. — Letter from your CPA if you are self-employed. — Letter of employment written on company letterhead and stating your salary, expected bonus, position, length of employment. — Last two pay stubs.
Most landlords for apts for rent in NYC require an annual income of at least 40 times the monthly rent. If your income is less than this multiple, in some cases you can offer extra security, prepayment of rent or a guarantor. For applicants with low income, assets can play a key role in getting approved.
3. It is essential to show all assets when applying for apts for rent in nyc. The more documented assets submitted to the landlord, the better the chance of a quick approval. It is important to come prepared with the following documents: — All recent bank statements. — All trading accounts, stock portfolios, etc. — All statements regarding any other liquid assets, trust funds, etc. — Proof of ownership of any income property. — Letter from CPA stating expected yearly income and net worth (for self employed individuals).
4. For apts for rent in NYC ask your most recent landlord to write a brief letter stating that you have been a good tenant and that you have paid your rent on time. If you are a member of a Condo or Co-op association, have them write a letter for you stating that you are a tenant and member in good standing.
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5. Credit Report: Get a look at your credit report before you start the process of finding apts for rent to identify any potential problem areas. It is not unusual for errors to appear on a credit report that could negatively impact the FICO score. If this is the case, it is best to prepare an explanation for the landlord of the NYC apts for rent beforehand. Tell METROPOLIS about anything on your credit report that you think might be a problem. Often there are steps we can take to help you in your application to the landlord. Even if you have a copy of your credit report, the apts for rent landlord will most likely run their own credit report and/or a Housing Court report.
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1. No credit: If you are from outside the U.S. or very young, you may not have credit established. Some landlords for apts for rent will have a problem with this. Prepayment of rent and/or extra security deposit on the apts for rent can often remedy the problem. Speak to METROPOLIS about what steps may be taken.
2. No Social Security Number: Most landlords with apts for rent require tenants to have a Social Security Number. For those new to the U.S., it is a good idea to begin the application process for a Social Security Number as soon as possible.
3. Housing Court Report: If a landlord with apts for rent runs a Housing Court Report on you and finds that you have had a conflict with a landlord in the past, this could be a problem. Even if you were in the right, some landlords with apts for rent will strongly frown upon any sort of legal conflicts in the past. If you have amicably settled a conflict with a previous landlord of apts for rent, have him/her write a letter stating that fact. It might help.
4. No verifiable income: If you have no verifiable income, prepare to prepay rent, sometimes up to a year in advance. Not all landlords with apts to rent will go for this. Speak to METROPOLIS immediately if you have this special circumstance. We can work with you.
5. Diplomatic Immunity: Most landlords of apts for rent in New York City will not rent to individuals with diplomatic immunity. Over the years we have identified landlords who will rent to diplomats. Speak to METROPOLIS immediately if you have this special circumstance. We can work with you.
Metropolis Apartments has offered apartments for rent in Manhattan and the outer boroughs for nearly 20 years. With Founder and President Tom Ripellino at the helm, Metropolis offers a depth of knowledge and experience unrivaled in the New York City market.
For nearly 20 years, Metropolis has specialized in apartments for rent in New York City.
Whether it is high end luxury or the bargain basement budget, for fee or No Fee apartments for rent, the Metropolis database comprehensively covers it all. Over the years we have forged precious relationships with landlords and management companies throughout this great Metropolis. When there is a vacancy, we know about it.
Apartments For Rent: Our Boutique Approach
Our boutique approach assures our clients custom service to their apartment search. Our small team of experienced agents have been with the firm for many years and will work tirelessly to find the best apartments for rent at the lowest price. We negotiate hard for our clients to get the best deal for apartments for rent.
Apartments For Rent: Neighborhood Advice
Especially for the out of town client, our agents give sound advice regarding features of the various neighborhoods that New York offers. Our direction will cover not only sensible commuting strategies, but local area knowledge of neighborhood infrastructure and entertainment highlights.
Apartments For Rent: Negotiating The Deal
For the past twenty years Metropolis has negotiated thousands of transactions on behalf of our clients. Knowledge and experience make deal making our second nature. We will secure our clients the best terms of the deal not only concerning the rental price but in all aspects of the deal.
Apartments For Rent: Success Strategies
We offer our clients success strategies for gaining approval from landlords. Even for clients with difficult circumstances who would otherwise find it challenging to gain approval for apartments for rent in New York City.
Over the years we have found solutions for clients with the following circumstances:
No credit history in the U.S.
No social security number
Under the income requirement (40 times the rent)
At Metropolis Apartments we hold the Key To The City for apartments for rent.
METROPOLIS APARTMENTS is a Full Service Real Estate Brokerage offering all the traditional services of a Buyer, Seller and Rental Broker. Our clients enjoy the synergistic confluence of experience and technology. COME DREAM WITH US.