broker fee in Brooklyn, NY rentals

[Cody C.]

Hello.   Most of the times, who pays the broker fee in Brooklyn, NY (specifically for this market...not rest of NYC) for rentals -- the tenant or the landlord?    When I look up this question on internet, it always says that in NYC, its the tenant who pays ...but in reality I am told that about half of Brooklyn listings are no fee (meaning that landlord pays) in order to get it rented fast.   Does it sound right?    Thank you. 

[Abel Curiel]

Quote from @Cody C.:

Hello.   Most of the times, who pays the broker fee in Brooklyn, NY (specifically for this market...not rest of NYC) for rentals -- the tenant or the landlord?    When I look up this question on internet, it always says that in NYC, its the tenant who pays ...but in reality I am told that about half of Brooklyn listings are no fee (meaning that landlord pays) in order to get it rented fast.   Does it sound right?    Thank you. 

Hello Cody,

Great question!

Streeteasy allows NYC agents & landlords to advertise "no fee" rentals which many like to take advantage of to receive more inquiries, applications, and fill vacancies sooner.

Right now, Streeteasy has 4,567 Brooklyn rentals listed and 3,196 are marketed as "no fee".

In addition to this, section 8, cityfheps, and other rental assistance programs usually pay the broker fee instead of the landlord or tenant paying.

Hope this helps!

Abel

[Eric Hajdu]

I would like to add that in many cases in NYC, "no fee" means the unit is listed directly by the owner on Streeteasy etc., as opposed to the landlord hiring an agent and paying their fee.  I have always preferred to use an agent to rent out my BK units, as I find renters that are paying the fee are more likely to stay for longer durations, and be better qualified tenants.