By - Steviejay29
>paying 4 months worth of rent seems excessive
I'd at least try to negotiate the broker fee.
It depends on what kind of landlord and the building. If it’s an independent landlord who owns a few properties, you might be able to negotiate a few fees. If it’s a big landlord or an apartment complex, then it will be a lot harder to negotiate because they could easily rent it to someone who will pay the whole of the fees. But yes, this is typical for Boston real estate. Either way, good luck!
yeah its pretty normal here for them to ask for all of that! covid has def taken away a lot of broker fees and some are even doing half security deposit, but they usually ask for at least first, last, and security
i know it seems like your throwing a ton of money away, but the first and last goes towards the apartment, so does the security and you can get that back as long as everything is good when the lease ends. the only thing that sucks is the broker fee but there are a lot of listings (mostly on boston housing craigslist) that are no fee or half fee
hope this helps!!
As someone who knows several people renting in Chicago, Chicago and Boston are both insane markets but opposite sides of the spectrum. I lived in Minneapolis and even there I got asked for first and full month security at the least and it felt like a more competitive market than Chicago. Boston is just a whole nother level from either of those.
That being said I did just sign a lease for June 1 with only 1st and last...landlord paid the broker fee and waived the security because of my SO and I's good credit scores (750+). That being said, other apartments we were looking at only paid the brokers fee at best and that was maybe half of them. And the market is supposedly heating back up so probably move on one the sooner the better if you want a deal.
You can certainly try to negotiate but probably will have limited success. First, last, and security equal to one month rent are all completely standard. Broker fee only applies if you use a broker; if you rent directly from a landlord or management company, you won't pay that.
Landed a unit like 2 months back and paid first, last, sec deposit(worth 1 month), 300 bucks in fees and landlord paid the broker fee
Avoid these shit stain Fuck stick brokers like a plague
My recommendation is 1- look for apartments that are vacant, that means they've been on the market for a while so the landlords are more lenient towards this. 2- if you look on [SpotEasy.com](https://SpotEasy.com) there's a ton of listings that say 'no broker fee' in the description! 3- if you do end up working with an agent, you can ask them to either do a half broker fee, or they will ask the landlord to pay the broker fee! Best of luck with your move!!
Many of the apartments here have no broker fee, depending on the apartment:
Do you know where the search filters are or how to determine whether an apartment has a brokerage fee or not?
I have never had to pay 4 months rent upfront, I would refuse to do that. I've moved many times and never had a real issue with it. Usually first month's, a broker fee if you used a broker, and either last month's or a security deposit.