Posted by John on December 07, 2001 at 09:09:34:
In Reply to: Re: key money -- can landlord's charge broker's fees or not? posted by hSan on December 06, 2001 at 23:13:11:
The reason a landlord may send you to a broker is so that you can provide them with the necessary information to do a proper reference and credit check. Landlords are out to save themselves from dealing with a troublesome tenant, and by having the facts... The can deny or accept your rental application (common sense).
Obviously, broker's will charge for their services, and I assume they checked on you on your background.
Note: What is not fair is that everybody is getting in to the game. Community agencies, supers, and former tenants are charging a finders fee (key money) to refer you to a landlord. Sometimes renters pay double or triple the fees before getting an apartment, plus the rent increase.
Well, good luck finding a decent apartment in NYC.
*That's why rent stablized apartments are in demand, protection once you get in.
: I have two comments.
: I thought the key fee used to be something you found in loft rentals. Renters would put a lot of money into a loft space they didn't own so they recovered the cost when they moved out in the form of the "key fee", but I may just be wrong about that.
: The second thing is with respect to the "finder's fees". I found an apartment by going directly to the landlord, but the landlord then directed me to a broker, who, of course, wanted to charge the broker's extortion fee. I couldn't help wondering whether the landlord and broker had some kind of scheme going. There was no obvious legal/business connection between the two.
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