What you can be asked to pay
For most NYC rentals, the landlord can collect three things at signing: the first month’s rent, a security deposit of no more than one month’s rent, and a background or credit check fee of no more than $20. Everything else in this calculator, such as movers, insurance and a guarantor company, is money you pay to someone else. A broker fee is yours only if you hired your own broker.
At a glance
- Security deposit or advance
- ≤ 1 month
- NY GOL §7-108
- Background/credit check
- ≤ $20
- or actual cost if lower; RPL §238-a
- Landlord’s or listing broker fee
- $0 to you
- FARE Act, since June 11, 2025
- Deposit returned within
- 14 days
- with an itemized statement
How the total is calculated
Total = first month’s rent (minus any free time at the start) + security deposit (capped at one month) + screening fee (capped at $20) + a broker fee only if you hired the broker + a guarantor company fee, if you use one + movers, renters insurance, utility deposits and anything else you enter. If you type a deposit above one month or a screening fee above $20, the calculator counts the legal maximum and flags the difference.
The savings line divides the total by what you can put aside each month and rounds up, so you know how many months of saving to plan for.
Worked example
A $3,200 one-bedroom with no broker, $1,200 movers and a $150 first renters insurance payment:
| Item | No broker | You hired a broker (15%) |
|---|---|---|
| First month’s rent | $3,200 | $3,200 |
| Security deposit (1 month) | $3,200 | $3,200 |
| Background/credit check | $20 | $20 |
| Broker fee (15% of $38,400) | $0 | $5,760 |
| Movers | $1,200 | $1,200 |
| Renters insurance | $150 | $150 |
| Total | $7,770 | $13,530 |
Saving $800 a month, the no-broker move takes 10 months to fund. Of the $7,770, $6,420 goes to the landlord at signing and $3,200 of that is a deposit you should get back. Before the FARE Act, a 15% fee to the landlord’s broker would often have landed on the tenant too, pushing the total to $13,530.
Edge cases
- Free-rent concessions lower what you pay up front only when the free month comes first. Check the lease; see net effective rent.
- Guarantor companies set their own prices; there is no official rate. Compare with what a personal guarantor would need to earn using the guarantor income calculator.
- Some housing is partly exempt from these limits: the one-month deposit cap in GOL §7-108 doesn’t cover rent-controlled units, certain seasonal rentals or owner-occupied co-op units, and co-ops can charge prospective shareholders more for some application costs.
- Mid-month starts may mean a prorated first payment. Use the prorated rent calculator.
What to do next
If someone asked you for a broker fee, run the FARE Act broker fee checker. Read what a landlord can legally charge at move-in, make sure the rent fits your budget with the rent affordability calculator, and price the move itself with the NYC moving cost estimator.