Loading ...Another Middle Man bites the dust?
part:
In New York City’s competitive rental market, tenants are often required to pay a fee, sometimes up to 15 percent of the annual rent, to a broker even if they found the apartment on their own by using websites like StreetEasy and Craigslist.
For a $2,000 per month apartment, a broker’s fee could reach $3,600, which would have to be handed over when a lease was signed.
Few cities in the United States have a similar network of brokers who collect fees from renters and control everything from listings to appointments to leases. Elsewhere, landlords either handle the marketing and leasing of units, or pay a broker to provide that service.
more:
https://www.nytimes.com/2020/02/07/nyregion/nyc-broker-fees-lawsuit.html