How much commission to pay rental broker
I’m looking to rent a place in Manhattan and want to know going rate for broker’s commission payable. I rent many apartments and never let my broker charge more than a month because I don’t want the commission to drive the discussions.
I’ve noticed in this market flooded with luxury rental/condos that condo rentals are asking for broker’s commission of 15% of first year’s rent. I find that to be absurd especially when the new luxury rentals are offering 2 months free rent for 14 months and some 3 months for 24 months. What is a reasonable commission?