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Posted by Stacy on October 29, 2001 at 22:35:59:

In Reply to: LL charges a brokers fee posted by POd Tenant on October 29, 2001 at 14:42:34:

Not legal -- assuming you're talking about NYC. It's called key money; a search on the board will turn up details. Having a brokers license is irrelevant: No one directly associated with the building -- super, owner, managing agent, etc -- can collect a broker's fee.

: Is it legal for a building manager or somebody who works for the managing agent/owner to charge a brokers fee in connection with leasing an apartment? Specifically this person runs the office and negotiates all the leases. Would it depend if that person is a licensed real estate broker and would any disclosure be necessary?

: Thanks

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Comments:
: Not legal -- assuming you're talking about NYC. It's called key money; a search on the board will turn up details. Having a brokers license is irrelevant: No one directly associated with the building -- super, owner, managing agent, etc -- can collect a broker's fee.

: : Is it legal for a building manager or somebody who works for the managing agent/owner to charge a brokers fee in connection with leasing an apartment?  Specifically this person runs the office and negotiates all the leases.  Would it depend if that person is a licensed real estate broker and would any disclosure be necessary?

: : Thanks


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