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NYC resident reveals she has to pay extra $10,000 fee just to sign a lease for a new apartment

The extra fee did not include rent, highlighting the unaffordable NYC rates in the housing market at the moment.

NYC resident reveals she has to pay extra $10,000 fee just to sign a lease for a new apartment
Cover Image Source: TikTok | @pipercassidyphillips

As the prices of almost everything around us increase, it feels unfair that our wages don't. In such an instance, affordability goes out the window unless you belong to that one percent of the world. Cities like New York have usually been known to be expensive but now the water seems to have reached the peak of Statue of Liberty.

One New York City resident shocked many online when she shared how difficult it has gotten to afford an apartment in the current economy. Piper Phillips (@pipercassidyphillips) took to TikTok to reveal that she and her partner had been looking for a one-bedroom apartment in NYC, which has now become their "full-time job" due to the market's current high prices. Phillips also shared the email she received detailing all of the expenses after making an inquiry for an apartment. Before signing the lease for a new apartment, she was expected to pay $10,000 as fees. "$10,000 to get the keys to the apartment in fees. This does not include rent," she stated. 

Image Source: TikTok | @pipercassidyphillips
Image Source: TikTok | @pipercassidyphillips

She claimed that she saw an apartment on the NYC real estate app StreetEasy and contacted the broker about it. Phillips was informed in the broker's response email that the unit she and her boyfriend were interested in would take three weeks to approve or deny their application. Furthermore, they were both told that they needed to earn 50 times the monthly rent in order to be eligible for the unit. Phillips thought it was absurd that she had to pay a broker when she was the one actively looking for an apartment. She questioned "One-month broker's commission, so I'm gonna pay this broker, who I found on StreetEasy. I found the unit on StreetEasy, I've been searching for hours, but I'm paying you 15%. To do what?" 

Image Source: TikTok | @pipercassidyphillips
Image Source: TikTok | @pipercassidyphillips

Aside from the broker's fee, there were several other building costs, such as an application fee ($550), an administrative fee ($1,500), an annual amenity fee per applicant ($350), a credit check per applicant ($150), a move-in fee ($150) and a refundable move-in deposit ($1,000). If Phillips and her partner went ahead with their application, they were facing over $10,000 in fees to get the keys and that sum did not include the rent they would have to pay for that month, which is presumably expensive. "If you're looking for an apartment out there, good luck because this is crazy," she warned. The caption sarcastically ridiculed the situation and questioned, "Do u want my firstborn child at this point?" 

Image Source: TikTok | @pipercassidyphillips
Image Source: TikTok | @pipercassidyphillips


While writing a post on Instagram, she wrote, "Regardless of budget or the fact that NYC is notoriously expensive, these kinds of apartment fees make it impossible for so many young people to move to this city. (So something needs to change)." Other residents of NYC agree with her. "Those fees look like they just put a bunch of words together," commented @terfqueen. "Yeah, hunting for an apartment in NYC is such a dumpster fire. But omg that condo is such a scam!! No way all those fees are ridiculous," added @Eva Kirie.

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A post shared by Piper Phillips (@piperphillips)


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