What was the total cost in broker fees for NYC rentals in the 201*?
If two brokers are involved in the deal, it's typical that each takes 7.5% of the annual rent, for 15% total. This is very typical especially if it is a property owned/managed by a small landlord in a prime neighborhood. If only one broker is collecting a fee from the tenant, than one-month to 10% of the annual rent is typical. Brokerage fees are not "set" and are negotiable in theory, however: 1. Some brokerages in the city have a policy of not allowing their agents from collecting a minimum fee of $xyz or *%2. Manhattan (below 110th Street) and (prime) Brooklyn are the most competitive environments to be a tenant and there are far more people looking for apartments than there are apartments. The intense demand for housing is why it's more common for brokers to collect fees from tenants than from landlords here--landlords can fill vacancies with qualified tenants without ever worrying about paying anyone to do it. Likewise, room for negotiations are constrained.