APARTMENT RENTING FEES - WHAT THE TRAFFIC WILL BEAR - September 1973

Sep 21, 2026

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Rental-agent fees for apartments in the metropolitan New York area are described as largely unstandardized and unregulated, meaning consumers may be quoted amounts based on what the agent can obtain. The text explains that New York lacks fixed fee schedules, relying instead on customary practices recommended by local real estate boards. It also advises negotiating fees in advance and getting terms in writing, warning against advance-fee apartment-renting agencies that provide low-quality, possibly fictitious leads.

LanguageEnglish

CategoryExam

FormatPDF

Pages5

Reading Time13 min

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APARTMENT RENTING FEES: WHAT THE TRAFFIC WILL BEAR

Real estate agent fee rules and negotiation advice

MATCHMAKER FROM DOWN UNDER HAS A TOPSY-TURVY PROPOSITION

Marriage-broker and employment schemes involving fees and travel

Vol.3,No.9September,1973 # APARTMENT RENTING FEES:WHAT THE TRAFFIC WILL BEAR If you're renting an apartment in the metropolitan New York area,you may be asked to payanywhere from a month’s to two month's rent-or more-to the real estate agent who lines up theapartment for you.Since there are no standards,no regulations,governing real estate agents fees inthis regard,what you will be asked to pay,in most cases,is whatever the traffic will bear. Not a day passes that some consumer confronted with an apartment lease and an agent askingfor his fee does not call the Bureau and pose this question;“Js this fee legal?” Since there are no laws or regulations affecting this particular business transaction,nothing isillegal. The New York Department of State says that there are no set fee schedules in New YorkState.It adds that there are customary fees charged by real estate agents,as recommended by localreal estate boards.These fees are supposed to be observed in areas where the local board operates. In Manhattan,for example,the Real Estate Board recommends a month’s rental fee for a oneyear lease;one and a half months'fee for a two year lease,and two months'fee for a three yearlease.If you're renting a $250 apartment for three years,that translates to a $500 agent fee. If you're renting an apartment,it would be wise to negotiate the fee beforehand so that you'renot in for an unpleasant surprise.If possible,get this agreement in writing. And once again,we'd like to reiterate the warning(Consumer Information,August,1973),tostay away from so-called apartment renting agencies that charge you a fee in advance to find anapartment for you.The fee is S25.All that entitles you to is a list-and complainants have told theBetter Business Bureau that these lists contain poor,fictitious,or obsolete leads. # MATCHMAKER FROM DOWN UNDER HAS A TOPSY-TURVY PROPOSITION There's a gent on the West Coast who's causing a flurry of publicity by advertising forthousands of American brides for Australian men-for a fee.Since by his own statement he'splanning to expand his operations to New York,this publication thought it would alert the ladiesto the excitement ahead. The man behind the enterprising offer is a Dr.John Sanders who told the Better BusinessBureau of San Francisco that he's a doctor of psychology and business administration.Sanders,allof 6 ft.8,advertised his intention to process 30,000 women a year to Australia on a San FranciscOradio station. Sander's program,however,has pitfalls.In addition to the marriage broker's fee(one week ofthe applicant's salary),there are travel and living expenses.There is no guarantee that any of the20 promised introductions will result in marriage.The fee is not refundable in case the hopefulbride-to-be is rejected by the Australian Consulate for entry into the country.And whereasSanders says he expects to process 30,000 women a year into Australia,the Consulate says thequota for Americans is 4,000 a year. Dr.Sanders has another enterprise:finding employment for American women in Australia.Hepromises to wire applicants'resumes to a travel agency in Sydney that he's affiliated with.However,the difficulty here is that the applicant has to pay her own way,plus hotel and livingexpenses,while job interviewing.And she'll have to leave on a temporary visa-as a resident. The prospect of a new life Down Under may appeal to some.But if Dr.Sanders ever gets tothese parts,the ladies would do well to consider whether such a life may be more topsy turvy thanthrilling. # RICHES FROM RACKS?HARDLY Have you ever watched a man open a vending machine,stand by while the money poured intoa paper sack,replace the merchandise,and walk away-you think,whistling happily,to the bank?And have you ever thought:that's the businessI should be in? A lot of people have thought this.And unfortunately,a lot of them have made so little profitthey couldn't even afford the gas to drive to the vending machine site.The sad truth is

FAQs

Are real estate agents in New York required to follow set fee schedules?

The New York Department of State states there are no set fee schedules; customary fees are charged based on recommendations from local real estate boards.

What should renters do before agreeing to an apartment agent’s fee?

Negotiate the fee beforehand and, if possible, get the agreement in writing to avoid surprises.

Why is the text warning against apartment renting agencies that charge fees in advance?

It warns that such agencies charge an upfront fee while providing only lists, which complainants say contain poor, fictitious, or obsolete leads.

Sep 21, 2026

Uploaded by Riley