Broker's Fee: No Fee & Fee Apartments
So, here's the truth: every apartment has a fee -- but you don't always have to pay it. At Rapid Realty, when we talk about No Fee Apartments, we're referring to listings where the landlord is paying the fee for you so they can rent the property more quickly. Of course, we also have a large inventory of apartments that do carry a Broker's fee. Unfortunately, many of the best deals and hottest listings carry a fee, because the landlord knows that their apartment will rent quickly with or without a fee (this is New York, after all). In either case, we'll show you as many apartments as we can that meet your criteria, and the decision is yours. If the listing does carry a fee, you should expect it to be the same amount as one month's rent. Commercial spaces may have a higher fee.
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Move-In Deposit
The Deposit isn't really a fee, and Rapid Realty doesn't actually keep any of it. Rather, the Deposit is held by the landlord in case you cause any damage to their unit during your tenancy. Deposit amounts vary from landlord to landlord, but a typical Deposit is one or two months of rent. Landlords may request additional deposit amounts for tenants with risky credit history or instable income.
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Credit Check Fee
The Credit Check Fee (also known as an Application Fee) is the fee that you will be charged for checking your credit. Even if you've recently checked your own credit, we have to run it again. As your Broker, we're presenting you to the landlords, so we have to be 100% sure that all of our information is accurate and thorough. This means that we need to run our own credit check on each tenant that's applying to have their name on the lease, as well as any guarantors or co-signors. Credit check's cost forty dollars. Occasionally, there may be an additional application fee charged by the apartment's management company, but this is fairly rare.
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Debit Card Processing Fee
Sure, it's a trivial fee, but hey! we're trying to be up-front here. One of our payment options is debit card. We can accept all (or any portion) of your move-in fees via debit card, but there is a three dollar transaction fee. |
Methods of Payment
Your total balance will consist of rent payment, deposit, and applicable fees. You can pay this balance via cash, money order, certified bank check, or debit card. Personal checks are not accepted. |
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