Do You Need A Broker To Get An Apartment In Boston?

Most apartments for rent in Boston require a broker fee equivalent to the price of 1 months rent. At Places For Less we offer a large selection of apartments with no broker fee. We are able to do this because many landlords try to incentivize their apartments by paying the fee themselves, so that you don’t have to.

Do you need a broker to find an apartment in Boston?

Finding apartments in Boston without a realtor can sometimes be tricky. Without a real estate agent or service, you can find an apartment through sites like Facebook housing groups, Facebook marketplace, and Craigslist. These websites are helpful but it may be time consuming to have to sort through all the options.

Do you have to pay broker fee in Boston?

In the Boston rental market, brokers’ fees are extremely common. Specifically, a broker fee is charged when a tenant uses a brokerage service to help them find an apartment or other residential rental. These brokerage services are more-or-less the equivalent of using a real estate agent to help you buy a home.

Is it hard to get an apartment in Boston?

The region’s apartment vacancy rate hovers around 5 percent—even lower in some places, including downtown Boston—and bidding wars for apartments are not unheard of. That’s right: Tenants are known to pay more than the asking price, just like so many buyers.

Why is it so hard to find an apartment in Boston?

Scores of renters in Greater Boston are battling to find a place, any place, to live these days. Rents have surged to record highs after the COVID-19 pandemic sent rents to lows the area hadn’t seen in years, and a slew of factors are making Boston’s always-challenging apartment market even more frenetic.

How much is a broker’s fee?

Realtors and real estate brokers typically charge around 5% to 6% of the selling price of a house. 2 This is often split between the seller’s agent and the buyer’s agent. Some discount real estate brokerages may charge a lower rate or instead offer a fixed-fee service.

How do I find a good broker in Boston?

A top-notch real estate agent, who has knowledge and experience, can make a world of difference.

1. Get Referrals from Family, Friends, and Co-Workers. Finding a great apartment broker in Boston can be a fairly simple task.
2. Get Referrals from Your Social Media Contacts.
3. Check Out Online Reviews.

Can a landlord charge a broker fee in Massachusetts?

We are not aware of case law that permits a landlord who is also a realtor to act as their own broker. The court would probably enforce the least favorable interpretation of the law, which is that a landlord-realtor is a landlord first and may not charge an application fee.

How do I find an apartment in Boston?

How to search for a Boston-area apartment

1. Abodo. Abodo has snazzy region-wide filtering features such as “near campus,” “fitness center,” and “pool” as well as the more utilitarian filters such as price range and number of bedrooms.
2. RENTCafe.
3. Zumper.
4. Zillow.
5. HotPads.
6. Trulia.
7. Craigslist.
8. ApartmentList.

Can a broker charge an application fee in Massachusetts?

Application fees are illegal under Massachusetts General Law, which stipulates that landlords may not charge more than first and last months’ rent, a security deposit and the cost of a new lock and key at or before a tenant signs their lease.

What is the best month to rent in Boston?

September is by far THE MOST POPULAR month in Boston to rent an apartment. Most schools (and Boston has a lot of them!) start classes the first or second week of September, so there is always a huge demand for September 1st apartments.

What is the best way to find an apartment in Massachusetts?

Best websites for searching for an apartment in Boston

1. ApartmentFinder.
2. Boston Pads.
3. Craigslist.
4. HotPads.
5. Padmapper.
6. Rentable (formerly Abodo)

How do I rent for the first time?

1. Step 1 – Look for a property to rent.
2. Step 2 – Conduct viewings.
3. Step 3 – Decide on a letting agent.
4. Step 4 – Make an offer.
5. Step 5 – Tenant Referencing.
6. Step 6 – Pay Tenancy Deposits.
7. Step 7 – Sign the Tenancy Agreement.
8. Step 8 – Documents and Inventory.

Who qualifies for affordable housing in Boston?

priced between $250,000-$400,000. affordable to households with a combined income between $60,000 and $100,000.

What month do most apartments become available?

The lowest rental rates are found during the winter months—October through April—with demand and prices reaching their nadir between January and March. An apartment search should begin in the middle of the month prior to the target move month.

Where can I find affordable apartments in Boston?

The city of nearly 700,000 has a mercifully convenient clearinghouse for those looking for affordable housing for either sale or rent. It’s called Metrolist, and users can search it via four affordable opportunities: lotteries and resales; available rental listings; and affordable properties.

How do brokers work?

A broker is an intermediary between those who want to make trades and invest and the exchange in which those trades are processed. You need a broker because stock exchanges require that those who execute trades on the exchange be licensed.

How much do brokers make?

The average salary for Broker is £41,875 per year in the London Area. The average additional cash compensation for a Broker in the London Area is £10,273, with a range from £1,099 – £96,007. Salaries estimates are based on 203 salaries submitted anonymously to Glassdoor by Broker employees in the London Area.

What is the average broker fee for buying a house?

between 0.3-1%
The fees that mortgage brokers charge can vary, but you can expect to pay between 0.3-1% of the loan amount.

Who is the top real estate agent in Massachusetts?

2021 INDIVIDUALS BY TRANSACTION SIDES

How do I become a broker in Boston?

“The best way to find a broker is by asking your friends or colleagues if they’ve worked with any real estate agents in the past that they would highly recommend,” LoCurto echoed. “If they had a good experience, then chances are you will too.