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Re: Help! - Do I have to pay the broker 18%?

Posted by gary on November 15, 2000 at 01:32:36:

In Reply to: Help! - Do I have to pay the broker 18%? posted by Harry on November 13, 2000 at 15:06:56:

This is a sad and commonplace situation. It is illegal--completely and totally illegal--for you to have to pay an 18% broker fee for an apartment you found yourself. Hell, the landlord doesn't care. He just uses this broker because it saves him trouble and paperwork, at your expense.
Pay the broker--you have to, for otherwise you won't get the apartment. Then file a complaint against the broker with the NY Secretary of State, which regulates brokers. Hopefully that can get you a refund. If not, sue the SOB.
Be prepared to prove that you found the apartment yourself.

: I found a rent stabilized apt thru friends of friends but I can't get the place without going through the broker. I met the tenant who is moving out but had to go see the broker since the management company says they only do rentals thru the broker. I'm resigned to having to pay the broker fee but they are charging 18% and I'm afraid of not getting approved for the apt. if I try to negotiate a lower fee. What is the best strategy?

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