I have been looking for apartments in NY City. Finally I found that I like. The agent told me that the Broker's fee is 15% of the yearly rent. I tried to negotiate but no luck. I had to accept it.
Than, during the process they asked me a $500 processing fee on top of the brokers fee.
I am planning to go to Better Business Bureau. Has anyone have any experience? Am I wrong?
2007-12-04 11:17:06 · 3 answers · asked by karaca_kestelli 1 in Business & Finance ➔ Renting & Real Estate
It sounds right to me.
But I think they should had told you before hand what your total cost and fees will be.
2007-12-04 12:01:16 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Save your complaint effort. A processing fee is quite standard in the real estate industry, and is added on top of the commission fee. It's fully legal, and complaining won't get you anywhere.
$500 sounds steep from my POV, but then you're talking NYC here, where everything is considerably more expensive than it is in a smaller city.
2007-12-04 11:29:47 · answer #2 · answered by acermill 7 · 0⤊ 0⤋
not unusual, property managers can be greedy in a limited market
2007-12-04 11:24:41 · answer #3 · answered by Anonymous · 0⤊ 0⤋