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NYC is lifting broker fees for most tenants. Here’s what to know.
In New York, unlike nearly every other part of the country, tenants usually pay the fee even though landlords usually hire the broker. Tenants and advocates rallying outside City Hall ahead of the vote said that’s the problem.
NYC broker fee law requires landlords to cover the cost, not tenants
Broker fees in NYC will be covered by landlords, instead of tenants, under a new law passed Wednesday by the City Council.
NYC Council passes bill to end broker fees for tenants in veto-proof vote
The New York City Council passed, in a 42-8 vote, a bill that will put an end to forcing tenant-paid brokers fees, as the city looks for strategies to tackle the housing affordability crisis. Now, whoever hires the broker will have to pay their fees.
NYC is about to make landlords cover most brokers fees. Will Boston follow suit?
Apartment hunters in New York City got good news on Wednesday when the City Council there passed a bill that would largely compel landlords, not tenants, to cover broker fees, that expensive charge tacked on to the cost of signing an apartment lease.
NYC Bans Tenant-Paid Broker Fees
Mandatory broker fees, an unusual feature of New York City apartment hunting long reviled by renters, will be banned under legislation that passed Wednesday after overcoming fierce backlash from the city’s real estate lobby.
NYC decides on who should pay broker fees
A StreetEasy survey shows 81% of renters believe landlords, not renters, should pay these fees, and 78% felt they had no choice but to pay a broker fee to secure housing.
NYC Council votes to end forced broker fees
The Council on Wednesday approved the revised FARE Act, shifting broker fees from tenants to the hiring party, typically landlords.
NYC Bans Charging Tenants Broker’s Fees
Landlords can no longer tack on thousands of dollars in fees to new tenants to pay brokers who show rental units.
NYC Council bars landlords from passing broker fees on to tenants in face of Adams’ skepticism
The City Council voted overwhelmingly Wednesday to pass a bill banning landlords from forcing tenants to pay broker fees, though Mayor Adams has voiced concerns about the measure and could veto it.
NYC bill shifting broker fees to landlords overwhelmingly approved by City Council
The City Council overwhelmingly approved a bill Wednesday that would largely shift the cost of broker fees to landlords, in a hit to the real estate industry.
abc7NY
3d
How this City Council Member just eliminated NYC's broker fees
Up until now, many New York City residents were subjected to
broker
fees
when moving into rental units despite not having ...
Opinion
7d
Opinion
Changing broker fees helps all for NYC rentals
The months-long debate over the New York City Council’s Fairness in Apartment Rental Expenses (FARE) Act has reached a fever ...
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