Ask Curbed: Should Co-Op Owner Pay Broker's Fee?: "We are considering renting a co-op... - NBC New York

Ask Curbed: Should Co-Op Owner Pay Broker's Fee?: "We are considering renting a co-op...

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    "We are considering renting a co-op sublet which has a 2-year maximum lease (due to the co-op's subletting rules). The broker informed us that there would be a fee of 12% of a year's rent. But I always heard that with co-op sublets, the broker's fee was paid by the co-op owner—not the tenant. In a soft market, with an apartment that's off the beaten path, we’re thinking this is an expense the co-op owner should incur. (The owner hired the broker to sell his place, after all, and the broker has not yet sold it.) Is there a standard practice in this situation?" [Ask Curbed archives]

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