What You Need to Know about Renting an Apartment in NYC
NOVEMBER 16, 2016 WRITTEN BY  
KENYON KING
The biggest shock to most NYC newcomers is that they have to pay a broker (me!) to find them a rental, which is not the case in most major cities. In NYC, there are hundreds of landlords and management companies. Apartment listings are often not advertised to the general public and are only in listing databases accessible to licensed real estate agents. By working with an agent, you not only gain access to these listings, but also gain access to an expert who can guide you through the often complex and stressful process of finding a new home in NYC.

While there are definitely publicly listed “no fee” units that one can access directly through management companies without a broker, and thus broker’s fee, management companies generally build this missing fee into the monthly rent. For example, a unit in a no fee building that is comparable to a unit in a fee building will often work out to the same monthly rent once you factor in the broker’s fee, as the unit in the no fee building will often be priced at a higher monthly rent. Given that this is the case, it’s worth considering working with someone who spends every day studying market trends and inventory. Besides providing access to additional listings, an agent can help you narrow down the pool of available inventory to homes that meet your requirements and are competitively priced. Once you’ve decided on your top options, your agent can help navigate you through the often confusing and complex application process and use their relationships to help ensure that your application gets the attention it deserves.

When you make the decision to work with an agent, you are essentially hiring an expert for the job of finding you a new home. It’s important that you choose someone who is not only capable, but who you feel you can trust and who respects your needs. Remember, even if it were free to use an agent, you are still spending quite some time together and are entrusting them with an important financial decision that impacts your daily life in a major way. Rental agents sometimes get a bad rap because of a few bad actors, but most rental agents chose their profession because they are passionate about helping their clients find their dream homes. If you feel like your agent is not listening to or respecting your needs, there are plenty of other experts out there who would be excited to help you. If you are working with a good agent, you will always feel like they more than earned their fee. The right agent will be your advocate, working tirelessly to make sure that you are perfectly matched to your new home.

If you’re thinking about moving or have questions about NYC real estate, please feel free to reach out to me. I’m always happy to help in any way I can!
ABOUT THE AUTHOR
Kenyon King
kking@lgfairmont.com
(646) 531-4912
What makes Kenyon a unique agent is his love for people. Born in a small town in the Mississippi Delta, Kenyon has retained the small town values of respect, love, and...
What makes Kenyon a unique agent is his love for people. Born in a small town in the Mississippi Delta, Kenyon has retained the small town values of respect, love, and always saying thank you that were instilled in him from a young age. After graduating with a Bachelor...
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Contact Kenyon
Contact Kenyon