Share Your Broker’s Commission!

Do not pay a broker fee. Instead, receive an NYC rental fee Rebate from your broker

Are you looking to rent an apartment in NYC or CT? Well, you can save thousands of dollars off your broker’s commission by only requesting an NYC rental fee rebate through NestApple. Our team of tenant’s broker is highly rated and affiliated to REBNY (Real Estate Board of New York) offers a full service of brokerage services for prospective tenants.

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Save Money On Your Apartment With A NYC rental fee Rebate

Getting Paid By Your Broker Is Easy With NestApple

If The Unit Has A Fee

  • First, select NestApple as your broker when you visit the unit
  • 15% of the annual rent (i.e. 2 month’s rent) typically split between the 2 brokers
  • Lastly, NestApple pays you back 2/3 of our fee as NYC rental fee Rebate
  • If you apply on your own, the listing agent gets the full 15% you pay him

If The Unit Is “No Fee”

  • This does not mean brokers aren’t getting paid any fee, it only means the landlord pays for it (as a referral)
  • In some cases, with NestApple as your broker, the listing broker and NestApple each receive a month’s rent from the landlord as a referral
  • NestApple will pay you back 2/3 of the fee received as NYC rental fee Rebate
  • If you apply on your own, the listing agent collects the full 15%

Standard Commission On A Rental In NYC Is 15% Off The Annual Rent!

Let’s walk through a few possible outcomes for when renting an apartment in NYC where the rent is $3,000 per month.

Tenant Goes Without A Broker

  • Total Commission of $5,400
  • The Listing Agent receives $5,400
  • You will get back $0!

NestApple Works With You

  • Total Commission: $5,400
  • The Listing Agent receives $2,250
  • Nestapple will receive $900
  • You will get back $1,800 from NestApple!

Tenant Hires A Traditional Agency

  • Total Commission of $5,400 Is Split
  • The Listing Agent receives $2,700
  • Tenant’s Agent receives $2,700
  • You will get back $0!

Calculate Your Rental Rebate

The calculation is based off a standard commission of 15% annual rent in NYC
$2,000 $12,000 Monthly Rent:  $2,000

NestApple Saves You

$1,200

I’m Ready To Get My Rebate!

Step One: Let’s Find That Dream Apartment Together!

Market Knowledge We have relationship across the NYC broker community, New York landlords and management companies due to our large volume of business. Also. our team and our founders have experience in real estate but also in investment banking, consulting, and corporate law. Lastly, we own real estate and invest ourselves and we will help you navigate around the pitfalls we have experienced before.

Portfolio of Listings As a matter of fact, NestApple will ensure that you have full access to all real rental property in New York City. For instance, our NestApple database is larger than StreetEasy. The NYC rental market is flooded with open listings (a broker “stealing” the listing of somebody else) and fake listings (“too good to be true” listings). Having access to NestApple’s database of verified listings will ensure that you don’t waste time on listings that are no longer available whether you are looking for temporary housing or a yearly lease.

Prepare To Make An Offer Whether you prefer to do most of the searching on your own or work more closely with NestApple, you can narrow it down to a few apartments. Once you have identified the property for which you are ready to submit an offer, NestApple will conduct a market analysis in order to determine the appropriate bidding strategy.

Step Two: Get Your Documentation Ready To Present Your Offer

The Application The application will vary depending on the landlord. In fact, it is typically fairly simple for most rental buildings and more extensive for condo or co-op application. Generally, you’ll need to have the following documentation ready:
  • Last two pay stub and a letter of employment (current position, salary, and length of employment)
  • Up to two years of tax returns
  • Latest bank and investment account statements
  • List of your previous landlords with contact information
  • A photo ID such as a passport or driver’s license.
For a condo or co-op apartment, you may have to complete a more extensive rental application which will be reviewed first by the management company and then handed to the board for review and approval. Lastly, you may have to pass a coop board interview before your lease application is formally approved.

Step Three: NestApple Will Negotiate Till The Offer Gets Accepted

The Offer After your offer has been submitted there is a negotiation on the specifics of the lease including monthly rent and concessions (first month free, security deposit, co-signers, etc) and it’s possible your offer won’t be the only one on the table. In the event that there are multiple applicants, the landlord may accept multiple applications from potential renters to compare and choose the best profile. In fact, the landlord may also run a credit report and sometimes a background check. As a result, the formal process may take a few days to get finalized.

Renter’s Frequently Asked Questions

Below are the most common of Renter’s questions we receive. Please click on an individual question to show the answer.
1. Are Rebate Commissions Legal In NY?

Yes. Sharing commissions with buyers and tenants remains legal. In fact, the New York State Department of State has taken the position that New York real estate brokers may share their commission with a purchaser, seller, landlord, or tenant. Therefore, commission rebates are legal in 40 states, including the State of New York. In short, it is legal in these States both for an agent to offer and for a buyer or tenant to accept a commission rebate in conjunction with the purchase or rental of residential real estate. Lastly, in 2015, Attorney General Eric T. Schneiderman issued an open letter confirming that real estate agents may rebate a portion of their commissions to clients and urged them to take advantage of rebates to increase price competition.

2. Who pays for the broker fees in a rental?

New York is one of the few cities in the world where the tenant covers the broker’s fees.

3. How much are broker fees?

Firstly, most apartments get listed with a 15% commission. Therefore, that means that, as a tenant, you need to pay the listing agent 15% of the annual rent. That fee gets split if the tenant has broker representation.

4. Is it cheaper to go directly to the listing agent?

No. If you rent directly with the listing agent, you are still responsible for the standard 15% commission of the annual rent.

5. How do I save money by working with Nestapple?
A typical apartment in the city charges a 15% fee of the annual rent:
  • When you work unrepresented, then, 15% is paid to the listing agent
  • If you work with a traditional broker, then, each broker is paid 7.5%
  • In case you work with NestApple, your 15% becomes 10%:
    • 7.5% to the listing broker
    • 2.5% to NestApple as NestApple refunds you 2/3rds of the fee
6. How do I find listings?

First, reach out to us and let us know what you are searching for. Then, we will add your criteria to our database, and you will receive daily emails with available listings that match your needs.

7. What happens when I see something I like?

There are two options; if the apartment has a scheduled “Open House”, we will let the listing broker know you will be attending. Otherwise, if there are no scheduled “Open House”, NestApple will schedule you a private showing.

8. Do you help me with the application?

Absolutely! Once you find “the one,” we will get the application and help you gather all the required documents. We will put it together and deliver it. In fact, Nestapple will follow up and make sure you are considered first and therefore increase your chances of getting the apartment.

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