It is not very complicated to understand the concepts of no fee New York City Apartments and its difference with Fee New York City Apartments. If one engages real estate agent for renting an apartment then one need to pay agent some percentage of commission for helping to find your apartment, as commission is paid this is said to be Fee Apartment. If you look for apartment without taking any agents help this it is considered as No Fee NYC Apartments.
If one is unable to find apartment for rent by themselves without any help from agent, and dealing directly with landlord, then they can save month rent or a 15% of year’s rent as commission. If agent is working for landlords then landlord pays the commission to the agent, in this case tenant need not worry about paying commission to the agent. The landlord or the owner normally pays one month rent or 8.33% of year’s rent as commission. This is also considered as No Fee NYC Apartments, as you are not paying any commission to the agent.
To clarify more about the concepts of fee apartment and no fee apartments, let’s say there two advertisements of two similar buildings in New York City, one is advertised as No Fee NYC Apartments and other advertisement does no mention any thing on fee. The owner of the No fee building advertisement will pay to an agent as he works for the owner and rent for this would be $2000 per month. But for the second advertisement which is fee building, one has to pay commission to an agent as helped you to find an apartment and rent here would be $1835 per month. In a year both apartments would costs same $22,000, as such it does not matter which building you are renting. Finding a good suitable apartment should be the goal.