Question 1

What services does RFC Consulting offer?

Accepted Answer

At RFC Consulting, we gather listing information from our extensive network of property managers, owners, lease breaks, and past tenants. We post real-time apartment listings that you might not find on traditional sites.

Question 2

Is RFC Consulting a licensed Real estate salesperson or a broker?

Accepted Answer

RFC is not a licensed real estate salesperson or a licensed broker. RFC Consulting was formed by an experienced real estate salesperson with over a decade of experience in the NYC. With recent changes to the NYC rental market this site was solely created to assist the consumer finding availabilities they might not find themselves.

Question 3

Does the "Fair Act" eliminate broker fees?

Accepted Answer

Yes and no. The "Fair Act" states that any advertised apartment posted by a licensed real estate salesperson or broker means the landlord must pay the broker fee. However, a licensed agent can still be hired by tenants to represent them for non-advertised apartments.

Question 4

Do landlords increase rent to cover broker fees?

Accepted Answer

Yes, landlords often increase rent to cover broker fees. Currently, rents are about 15% - 30% higher to account for these costs. This added expense affects your monthly rent and any future renewals, which will be based on these inflated prices.

Question 5

Can hiring a tenant agent save you money?

Accepted Answer

Yes, hiring a tenant agent can save you money. Many landlords are open to negotiating rent if they don't have to pay a broker fee. At RFC Consulting, we advise against hiring an agent unless you plan to stay in your new apartment for at least two years. Thanks to the "Fair Act," broker fees are now more practical and affordable. Everything is negotiable, and hiring an agent ensures your fair housing protection. Often, you'll get a discounted monthly rent, which benefits you at renewal time by lowering any rent increases.

Question 6

Do landlords keep available apartments off major advertising sites?

Accepted Answer

Yes, landlords often keep available apartments off major advertising sites. Despite the "Fair Act," many landlords prefer not to pay broker fees. We frequently see availability lists sent to large real estate firms with instructions not to advertise. This limits public options and inflates prices on listed apartments, reducing online inventory.

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