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.
Bye-bye broker fee: NYC Council approves bill to eliminate fee for most tenants
The New York City Council approved new legislation on Wednesday that will eliminate hefty upfront broker fees for most renters.
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 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 broker fee bill could lead to higher rents, mayor says
A New York City Council bill that will shift the burden of paying broker fees to landlords could have “unintended consequences” that lead to higher rents, Mayor Eric Adams said.
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.
A new law in New York will do away with broker fees
NPR's Ayesha Rascoe speaks with New York City Council Member Chi Ossé about his FARE act, which shifts the responsibility for broker fees from the tenant to the landlord in many cases.
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Good-bye to the Broker Fee
The broker fee as we know it is over in New York City. A City Council bill that would prevent your landlord from charging you ...
Average upfront cost for an NYC apartment with broker’s fee hits whopping all-time high
The whopping amount includes the broker's cut, first month's rent in advance and security deposit, according to the study by ...