Remember that fourth dimension you were cruising Craigslist for the double-dyed flat and come up that adorable one - sleeping accommodation in the East Village for just $ 700 a month ? Also , think back how that flat did n’t survive at all , and how the agent lean it was really a immense criminal who took all your money ? Do n’t worry , it pass all the time . Rental brokers in the urban center tend to get a bad rap music – and most of the sentence , it ’s pretty warranted ( from “ no fee ” apartment scams , to fake bedrooms , to the classic hook - and - exchange ) . But not all Realtor are out to screw you over ; some actually just want to feel you an apartment . To make your next move a slight easier , we hit out to some of the metropolis ’s top factor and diligence professionals to find out out all the ways the cheap brokers are ripping you off .
Taking advantage of desperation
When looking for an flat in New York , there is absolutely a golden rule . “ If something fathom too good to be true , it most likely is too honest to be true , ” says Gary Malin , president of Citi Habitats . “ People understand that the rental market place here is a very taut one . It ’s very expensive . The grocery store moves quickly . factor who are looking to take advantage are looking for people who have been through the ringer and have amount up not observe what they want , so they ’re desperate . You have to be your best advocate and keep your antenna up all the time . ”
The bait-and-switch
The bait - and - switch is one of the most commonly used tactic to lure in unsuspicious renter . “ This is when a broker will publicise an apartment , usually a high - character apartment with enceinte pictures , at a low price . Upon inquiring , the broker will say that this apartment is no longer available and will show lower - quality places , ” sound out Shannon Eidman , a real landed estate agent at Compass . That listing you saw for a just - off - the - Bedford - end two - bedroom with marque - Modern appliances , a 24/7 doorkeeper , and a gymnasium , all for $ 2,700 ? Yeah … that ’s not happening .
Fake bedrooms
How about that one number you saw for a three - bedroom in the Financial District for just $ 2,000 a month ? That sounds great , good ? ! Sure , until you get there and find out that the sleeping room that would be yours is actually an bay with a half - wall . “ Advertising bedrooms that are n’t really bedrooms is another vulgar rip - off , ” say Eidman . “ This admit spaces that are sub - grade amateur space and/or suite without windows . ”
Exclusivity
Often times , a agent will only show you their own exclusive , or their troupe ’s exclusive , irrespective of what you ’re actually looking for , just so they can get full commission . “ Let ’s say the typical commission for a rental broker is 15 % of the one-year rent . If a rental agent push you into one of their own exclusive itemization , telling you that it is the best in the region on the market , and others are n’t available to be view , etc . , then they get the benefit of the full perpetration without take to separate it with anyone , ” says Eidman . “ irrespective of delegacy , whether it ’s half or whole , a broker should show you everything that fit out your standard no matter who the list agentive role or person is . ”
Cash deposits
If your broker is ask you for any payments in John Cash , be untrusting . “ While some landlords and brokers do take cash deposition , most reputable company choose a mention posting , bank check , or money order of magnitude . If they do postulate cash , make certain to get a reception , ” say Steve Halpern , an agent at Compass .
Credit checks
“No-fee” apartments
When an apartment is listed as “ no - fee , ” that basically means “ no fee for the tenant . ” The broker still makes a direction on a no - fee flat , but it ’s the construction owner who pay it . Some factor , however , will assay to double - dip . “ This happens when a agent fails to lean an ‘ owner - wage ’ apartment as a no - fee apartment , ” says Eidman . “ This is an attempt by the broker to get pay up by both the landlord and renter . ”
In general , it ’s common for brokers to put up a " no - fee " list , and then attempt to talk prospective renters into give some sort of fee . “ the great unwashed are n’t stupid . But this is important to remember : if an flat is heel as no - fee , then do not devote any case of fee other than what the landlord or construction ask , " says Smith .
The other major progeny with " no - fee " apartment ? They ’re typically priced much high than apartmentswithfees , so it ’s generally a huge misconception that you ’re draw a good deal .
Jason Hoffman/Thrillist
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