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Frequently Asked Questions

Questions about Array Property Group:

Array Property Group is a Brokerage specializing in No Fee Luxury Rentals in New York. We’re comprised of a team of real estate specialists that love the work we do and love our clients!

Absolutely! The majority of Agents at Array Property Group only specialize in No-Fee Luxury Rentals. However, we also have some agents that work with Fee apartments.  You won’t ever have to pay us or pay fees related to us helping you find your ideal apartment (unless you’ve expressly asked to work with a Fee broker at our company). Our payments come directly from the owners of the buildings we find you!

You’ll be delighted to know that we have a wide range of gifts to give you for working with us! Depending on the month, we’ll give out Uber gift cards, we’ll get you a gym membership or even get you an UberEats gift card so you can settle after moving in and order plenty of food to enjoy!

Finding No Fee apartments can be a tricky process not to mention time consuming. Luckily for you there is a wide variety of websites that you can visit to find no fee apartments. The most popular websites are Streeteasy, Renthop and NakedApartments though you can find plenty of no fee apartments without the worry of having to search through hundreds of listings yourself on our website! Fill out our contact form on any of our pages and get started with your moving process as soon as possible and we’ll get back to you with top quality verified listings of hundreds of incredible no fee luxury apartments and buildings!

For Renters:

We’re glad you asked! It’s one of the most popular questions in the New York real estate domain. When you hear the term no fee it refers to how the broker gets paid, or the person helping you find a rental apartment. So if a broker is no fee, you don’t have to pay his expenses or a broker fee for his work done towards finding you your ideal apartment! How do they get paid? Brokers and agents who are No Fee often get paid by the Owners of the Buildings that you move into! 

The important distinction between Fee and No Fee is that the broker that shows you properties and listings will get paid in different ways. With no fee apartment listings, the burden of paying the broker’s fee does not fall upon you. At Array Property Group, we are solely No Fee Agents and Brokers, so you’ll never have to worry about covering our expenses!

Up until several months ago, the prices of application fees varied greatly. Thanks to the Department of State, the limit of the cost of application to buildings can now never exceed 20$! So be sure to check that no one is charging you more than that. In the following link, you can find the official senate PDF if you ever require it.

The main distinction between both Gross and Net Rent is best understood in the following. Net Rent is what you’ll be truly paying for the unit you decide to move into. The advertised “Gross” Rent will always be higher than the Net if there are concessions on the current unit (Such as 1 month free). The Net rent is simply the Gross rent minus all concessions put forward to the particular unit you have chosen.

Finding the right broker or real estate agent is, in our opinion, one of the most crucial aspects before you set out on a search of finding your ideal apartment. Why is it so important? Because in a city that is constantly bustling and high paced, it is of utmost importance to work with someone who is dedicating their time and focus on you! The most important qualities you should find in a broker or agent are that they are attentive to your needs – that they know the details of what makes an apartment ideal for you – that they are social and friendly and passionate about working with you – that they have a considerate amount of experience in the neighborhoods you are researching in – and most important of all, that you feel comfortable with them!

When you see an apartment that advertises the ability to be flexed, or if the apartment says “flex” it refers to the fact that the outlay of the floor plan can be modified to add another room with the help of a flex wall. A wall would be temporarily installed to create a division of space; this is popularly done with the living room or alcoves in order to divide the space an add an extra bedroom. If you wish to find apartments that are flex, make sure you mention it so that you can verify if the landlord or management company allows the use of pressurized wall to divide the space. 

An Alcove is an area that is often adjacent to the living room or main area which is popularly used for making a study area, home office or extra bedroom. Alcoves can also be referred to as an off-room.

On July 11th 2019, the State of New York at the Senate Assembly made several changes regarding tenancy laws in New York City. Many of these laws directly affect your moving in process, especially in regards to no fee luxury rentals as the law now states that ALL application fees and background check fees cannot exceed 20 dollars per applicant.

The official transcript states: “A landlord, lessor, sub-lessor or grantor may charge a fee or fees to reimburse costs associated with conducting a background check and credit check, provided the cumulative fee or fees for such checks is no more than the actual cost of the background check and credit check or twenty dollars, whichever is less, and the landlord, lessor, sub-lessor or grantor shall waive the fee or fees if the potential tenant provides a copy of a background check or credit check conducted within the past thirty days.”

An official copy can be found Here.

Lofts are often quite popular in real estate due to their aesthetic and architectural traits. A loft is a space that has been converted from a previous commercial use and made into a residential use space. Popular traits of lofts that you often see in New York City are high ceilings, large windows and large spaces in general.

A disclosure form is the form your agent or broker will present to you upon first contact. It is an important piece of paper that is required to be presented to the client, though it is up to you whether to sign it or not. The form itself is a disclosure of information in regards to agency – it serves the purpose of informing you who your real estate agent represents and whose interests the real estate agent serves.

The specific requirements asked of you to have a guarantor when moving into a luxury apartment in nyc can sometimes differ but here are some guidelines of what to expect.

Landlords usually allow for guarantors to guarantee a lease if they have assets or are located in the tri-state area. If you do not have a new york guarantor, you can either ask a friend or acquaintance to become your guarantor. Or you can use a guarantor company in nyc such as Insurent and Guarantors, an online platform that guarantees your lease for a fee. These are often referred to as guarantor services.

Having a guarantor is usually a good guarantee for landlords that you’ll be able to pay the rent or have a back up plan for them if you can’t cover rent; as such, guarantors are often required to make 80-100 times the monthly rent.

Your guarantor will be asked to provide two recent pay stubs, two bank statements, their tax returns and a letter of employment. (If they are self-employed then they can provide a certified public accounting statement in regards to their income).

The approval process in new york city can often be a long process and can sometimes be complicated. The reason for this is that many landlords prefer a lengthy and secure process than a speedy and unsecure one. By asking many requirements and ensuring that their potential tenants can pay appropriately, they are avoiding future issues in regards to chasing up clients that do not pay their monthly rent. Landlords often have to undergo a lengthy process in order to evict tenants and as such, they prefer to have the approval process as a good safe-guard in avoiding future issues.

The usual and most popular choice for lease term in NYC is 1 year – 12 months but it is also often the case that tenants wish to save more long term and get more concessions. It is usually the case that landlords will offer better deals on rent and concessions to clients if you’re willing to sign a 24 month lease.