Every individual has a dream to live in the New York City and also none of them wants to pay a fee to the brokers to rent an apartment. When you go to a real estate broker to search for the best NYC apartments and they advertise no fee apartments NY, then that have two meanings. This article will give you ideas about the No Fee Apartments NY and the rents.
If you lease an apartment from an apartment rental building and it's No Fee, this means that the management company that actually owns the building is paying the broker a fee as commission for bringing you to their no fee apartment rental buildings.
But if you lease an apartment from a condo building that is not a rental building, then it means that the owner of the individual unit will pay the broker a fee and, hence, you will not have to pay a fee to rent those apartments.
Now you must be thinking that what is the basic difference between an apartment rental building and renting an apartment from an individual condo owner? The main difference is that an apartment rental building only leases out the apartments. These apartments are usually not for sale and you have an option of renewing your lease.
Renting an apartment through a condo owner generally means that the owner isleasing the unit out for a precise time period. The condo owner can sell the unit anytime and you don't have the option to renew. The process of renewing basically takes longer than a month because the condo board is also involved and has to approve your condo package. For this process, you will have to pay an application fee which could cost a few thousand dollars and is not refundable.