Related Posts
More Posts
What is your favorite planner?
Please Help your inputs helps me
Hi All
I am a fresher and joined infosys Nov 2021 in campus placement.
Now has 11 months of experience. I am planning for MS in Jan intake
If I resign now notice period is 1 month, but if I complete 1 year notice period is 3 months?
My visa is not yet approved, I am confused now whether to resign or stay?
Is there any buy back notice if it is there what is the process?
Infosys
The adventures of RECTANGLE MAN
Enthusiast
Thought I was on LinkedIn when I saw this one
Additional Posts in The Boston Bowl
Are there any good petting zoos in Boston?
Conversation Starter
Boston is truly magical
New to Fishbowl?
Download the Fishbowl app to
unlock all discussions on Fishbowl.
unlock all discussions on Fishbowl.
Tenants paying the equivalent of one month’s rent in broker fees is the norm in Boston. There’s a few exceptions:
1. Apartment complexes with leasing offices
2. Apartments listed on Craigslist/FB - few and far between but some places listed by owner do not have the fee
3. Suburbs
I moved to Boston over 20 years ago and that's how it was even then.
Seems like quite the racket. Boston’s the only place I’ve run into this.
NYC does this too, but their cap is much higher at 15% of annual rent vs the 1 month’s rent cap in Boston
Welcome to Boston!!! 😈 seriously though, the only way I’ve found to avoid this is to rent from a larger managed building. With Covid, but not sure if it’s still going on, you could even get some deals. If you factor a 12 month lease out, and split that broker fee up over the 12 months, sometimes the extra per month cost at the manage building still ends up being cheaper
Yes, brokers fees are standard in Boston. And, yes, it's paid by the landlord.
However, at leasing, you will typically be required to pay 3 months rent in one check. First month, last month, and security deposit. This is how the landlord pays the broker. They get the security deposit, and the landlord keeps last month rent as the de facto deposit.
So just be prepared to write a big check when you sign the lease.
Nope. Not landlord. Some may "generously offer" to split it with you. I and everyone I know actually put up FOUR months rent up front: first, last, security deposit, and broker fee
It can be negotiated like anything else. Got my current landlord to split it with me. But yes, it's the expectation I'd say 80-90% of the time.
If you rent directly from a complex, there is no “broker fee” and sometimes they will even throw in a “free” month of rent.
Otherwise just search Craigslist for no broker fee listings.