What is a no fee apartment?
A no fee apartment, also known as a feeless apartment, is one in which a renter/tenant is not required to pay any additional fees in order to secure an apartment. For example, if a renter named Erica is interested in renting a $2,000 with a fee, she may pay up to $3,600 in broker fees, just for the right to rent that apartment. In other words, Erica would pay almost 2 months of rent upfront, simply so she can begin renting an apartment costing only $2,000 a month. Keep in mind, none of that money goes towards rent, security deposit, moving costs, or any other miscellaneous fees. That $3,600 is simply gone.
Here’s a tip from team feeless, NEVER PAY A FEE 🙂