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Master_Dogs t1_jae0gmp wrote

Reply to comment by psyrag in Is this normal? Agent asking for $3,455 brokers fee before signing lease by psyrag

> most of the ones ive seen online/in person have an application fee though. is it legal in MA to have an application fee but it just has to be refundable? > >

Illegal for landlords to charge this. See:

Not illegal for brokers - see the State regulations on this: 254 CMR 7.00: Apartment Rentals

> i'm also a current undergrad student- could that factor into them wanting such a high amount upfront since there are probably 20 other students fighting for the same place?

Yes. They want to weed out any student who might trash the place. That is likely why they want both an app fee and a "cosigner fee". I'm also assuming you're renting a large unit for $3,455/month in a desirable neighborhood near a major college. Broker fees are typically 1 month's rent, but they can vary since the legal regulations on them are light thanks to real estate lobbying. I'm assuming you're renting at least a 2 bedroom unit, perhaps 3 or 4 even with at least a few other people. In which case it's pretty typical for the landlord to want as much money upfront as possible plus to use a broker to deal with the logistics of showing the place and vetting applicants.

Note that under MA Law the landlord themself can further ask for these upfront payments:

  • The first month’s rent
  • A security deposit (which can not be more than one month's rent) to cover the cost of any damage to the apartment beyond normal wear and tear
  • The last month's rent (the month that will turn out to be the tenant’s last one in the apartment, not necessarily the last month on the lease)
  • The cost of a new lock and key for the apartment

You should be prepared to fork over upwards of 4 months rent upfront to the landlord/broker combined. Usually 1 month to the agent/broker and upwards of 3 months to the landlord to cover security deposit, first month's rent and last month's rent. Yes, this will be a shit ton of money. Make sure you have checks and the money ready to go if you're serious about this apartment. Get your roommates on the same page too, or have 1 person pay and everyone else Venmo/PayPal/whatever that person. YMMV based on the given agent and landlord and how many different checks they're willing to deal with. If you want to secure the place, you should be fairly flexible. That or keep looking until you find a landlord willing to do whatever you want.

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