What is a no-fee apartment? (and how much you save)
Explain what a broker fee is and why it exists; what 'no fee' and 'by owner' mean; how much a fee typically costs (one month's rent, or 12–15% of annual rent) and what that is in real dollars; how to confirm a listing is truly no-fee; trade-offs of going direct with owners.
Browse no-broker-fee, by-owner rentals across US cities on NoFeeNest, and see our move-in guides for furnishing and organizing your new place.
No-fee apartment FAQ
What does a no-fee apartment mean?
A no-fee (no-broker-fee) apartment is a rental where the renter does not pay a broker commission. The listing is usually posted by the owner, by a management company that absorbs the fee, or under a market rule that shifts the fee away from the tenant. Confirm the lease and the original listing text before you apply.
Source: https://nofeenest.com/guide/what-is-a-no-fee-apartment#faq-what-does-no-fee-mean
How much does skipping a broker fee save?
Broker fees commonly equal about one month's rent, or roughly 12–15% of annual rent in competitive markets. On a $3,000/month unit that is roughly $3,000–$5,400 avoided at move-in. Exact amounts vary by city and listing; NoFeeNest does not set or collect fees.
Source: https://nofeenest.com/guide/what-is-a-no-fee-apartment#faq-how-much-broker-fee-saves
Is 'by owner' the same as no fee?
Often, but not always. 'By owner' means the poster is the owner or their agent of record; 'no fee' means you are not charged a broker commission. Prefer listings that say both, then reconfirm with the owner in writing before paying any deposit.
Source: https://nofeenest.com/guide/what-is-a-no-fee-apartment#faq-by-owner-vs-no-fee
How do I confirm a listing is truly no-fee?
Read the original source post, ask the poster to state in writing that no broker fee is due from the tenant, and check the lease for commission or agency-fee clauses. Tour in person. Never wire money or pay a deposit before you verify the unit and the fee terms.
Source: https://nofeenest.com/guide/what-is-a-no-fee-apartment#faq-how-to-confirm-no-fee