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EDDIE LANDSBERG
  • FRONT PAGE
    • New York City Listings Page (Rentals)
  • BIO
    • BIO as Real Estate Agent
    • BIO as Musican
    • Let's Search Together!
  • BROKER LINK
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    • Apartment Hunting On A Budget
    • Filling Out A Rental Application
    • How Guarantors Work
    • Proving Income if you are Self Employed >
      • Apartment Hunting for Actors, Artists and Musicians
    • Can international students rent apartments in NYC?
    • Can the landlord raise my rent?
    • Can foreign nationals rent apartments in New York City?
    • QUESTIONS ABOUT RENTING APARTMENTS IN NYC
  • SELLING/BUYING
    • Super Deals! (under $300k)
    • Condos & Co-ops / under 700k
    • Condos & Co-ops / Over $700k
    • Houses / Multi-family / Townhouses
    • All Properties (over 1.5M)
    • Eddie on City Snap
    • What's my house worth?
  • Featured Listings
    • RentHop
    • StreetEasy
  • LANDLORDS
  • 日本語
    • ニューヨーク市の賃貸物件
    • プロフィール
  • RENTALS BY BEDS
    • 0-1 BEDS by PRICE
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    • 2 BEDS by PRICE
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      • Roommate and Room Share Friendly
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    • MAP VIEW
    • DRAWING TOOL
    • Search by Neighborhood & Zip (Manhattan)
    • Popular Neighborhoods in NYC >
      • Long Island City (QUEENS)
      • Unbeatable Deals: Blocks from Central Park
      • Affordable Deals in the Financial District
      • Upper East Side Bargains and Deals
      • Latest on Market in Bushwick
      • Midtown Manhattan Rentals
      • Specials in Soho
      • CHELSEA awaits you
      • Astoria is Hot and Cooking!
      • Best of the Village
      • Washington / Inwood: The Very Best of Upper Manhattan
      • Upper West Side Living
      • Best Deals in Harlem
  • Search by Budget
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      • Gross Rent Calculator
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      • Money Due at Lease Signing Estimator
      • Rent Increase Calculator
      • Rent Burden Calculator
      • Cheaper to Buy or Rent?
    • Lease Assignment
    • Monthly Budget Sheet
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  • FAIR HOUSING NOTICE

Navigating NYC's Housing Market: Understanding the Fees When Signing a Lease with a Real Estate Agent

When you're looking for an apartment in NYC, working with a real estate agent can be a great way to navigate the often-complex housing market. One of the key benefits of working with a real estate agent is that they can help you understand the various fees associated with renting an apartment. Here's a guide to some of the most common fees you can expect when signing a lease with the help of a real estate agent:

  • Rental Application Fee:  This fee is typically charged to cover the cost of running a background and credit check on you as a potential tenant. It's usually capped at $20.00, but it may be slightly higher for condos and co-ops.  (You can usually submit your own credit report if it is from the past 30-day.)
  • Security Deposit:  It is usually equal to one month's rent and is held in case of any damages to the apartment.  Capped at one month.
  • Broker's fee: This fee is paid to a real estate broker who helped you find the apartment. It's negotiable and it can vary depending on the agreement between the agent and the client. It's usually about one month's rent, but it can be more or less.
  • Renters insurance: This is not a mandatory fee, but it's highly recommended by real estate agents, since it can protect you and your belongings in case of damages or accidents. It can cost around $125 for a year.
  • Amenities: Some apartments may come with additional amenities such as a gym, pool, or parking, which may require additional fees.

*Note that condos and co-ops may have much higher fees.  Also rules and regulations are slightly different with rent controlled and rent stabilized buildings. 

It's important to be aware of these potential expenses and to budget for them when considering a rental. It's also important to review the lease carefully, and ask any questions you have before signing, to ensure that you fully understand all the terms and any additional costs associated with the rental.

It's also important to note that this is not an exhaustive list of all possible expenses, and other expenses may arise during the course of your tenancy. As such, it is advisable to get all the information you can about the property and the lease before signing it.

It's always a good idea to have a contingency plan to cover unexpected expenses, so be sure to budget for a little extra in case of any unexpected costs. And it's always a good idea to work with a reputable real estate agent, who can help you understand the lease, the terms and any additional costs associated with the rental.
​
Working with a real estate agent can be a great way to find the perfect apartment in NYC while also understanding the fees associated with renting an apartment. They can help you understand the process, negotiate the best deal, and navigate any additional fees that may come up. It's important to have a budget and plan for these extra costs, so you can make sure you can comfortably afford the apartment you are renting.
​Changes in New York's Rent Law:  What You Need to Know 
(Attorney General's Homepage)



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This site is copyrighted eddielandsberg.com 2001-2023 and beyond.

This website is owned and operated by Edward Landsberg doing business as Eddie Landsberg.   I am a Licensed Real Estate Sales Person affiliated with Krieger Real Estate.   The website is a third party website. I am fully responsible for its content.  
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The information on this site is presented as general information and for marketing purposes only and does not constitute  personal or professional advice.  Please refer to DISCLAIMER and Terms of Service.

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  • FRONT PAGE
    • New York City Listings Page (Rentals)
  • BIO
    • BIO as Real Estate Agent
    • BIO as Musican
    • Let's Search Together!
  • BROKER LINK
  • RENTER EDUCATION
    • Apartment Hunting On A Budget
    • Filling Out A Rental Application
    • How Guarantors Work
    • Proving Income if you are Self Employed >
      • Apartment Hunting for Actors, Artists and Musicians
    • Can international students rent apartments in NYC?
    • Can the landlord raise my rent?
    • Can foreign nationals rent apartments in New York City?
    • QUESTIONS ABOUT RENTING APARTMENTS IN NYC
  • SELLING/BUYING
    • Super Deals! (under $300k)
    • Condos & Co-ops / under 700k
    • Condos & Co-ops / Over $700k
    • Houses / Multi-family / Townhouses
    • All Properties (over 1.5M)
    • Eddie on City Snap
    • What's my house worth?
  • Featured Listings
    • RentHop
    • StreetEasy
  • LANDLORDS
  • 日本語
    • ニューヨーク市の賃貸物件
    • プロフィール
  • RENTALS BY BEDS
    • 0-1 BEDS by PRICE
    • 0-1 BEDS by RECENCY
    • 2 BEDS by PRICE
    • 2 BEDS by RECENCY
    • 3 BEDS by PRICE
    • 3 BEDS by RECENCY
    • 4 or more BEDS by PRICE
    • 4 or more BEDS by RECENCY
  • Pet Friendly Apartments
    • most recent
    • by price
  • Amenities
    • Search by Amenities
    • Elevator Only
    • Laundry In Building
    • Laundry in Unit / Dishwasher
    • Rentals with Swimming Pool
    • FURNISHED APARTMENTS >
      • most recent
      • by price
      • Roommate and Room Share Friendly
  • RENTALS BY NEIGHBORHOOD
    • Moving to New York City
    • MAP VIEW
    • DRAWING TOOL
    • Search by Neighborhood & Zip (Manhattan)
    • Popular Neighborhoods in NYC >
      • Long Island City (QUEENS)
      • Unbeatable Deals: Blocks from Central Park
      • Affordable Deals in the Financial District
      • Upper East Side Bargains and Deals
      • Latest on Market in Bushwick
      • Midtown Manhattan Rentals
      • Specials in Soho
      • CHELSEA awaits you
      • Astoria is Hot and Cooking!
      • Best of the Village
      • Washington / Inwood: The Very Best of Upper Manhattan
      • Upper West Side Living
      • Best Deals in Harlem
  • Search by Budget
  • Resources / Documents
    • 3D Viewings and Virtual Tours
    • How to DocuSign
    • Rent Calculators >
      • Gross Rent Calculator
      • Rent Pre-Qualification Calculator
      • Money Due at Lease Signing Estimator
      • Rent Increase Calculator
      • Rent Burden Calculator
      • Cheaper to Buy or Rent?
    • Lease Assignment
    • Monthly Budget Sheet
    • NYC Real Estate Market Reports
    • Tenant Rights and Disputes
  • FAIR HOUSING NOTICE