New York City ditches broker fees

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.
What to Know About Broker Fees in New York City
The City Council overwhelmingly passed a measure to shift the burden of broker fees to landlords. Here’s what that means for renters.
New York City Council approves bill shifting broker fees to landlords
The City Council approved a bill on Wednesday that would curb a loathed New York City real estate practice: making renters pay thousands of dollars in broker fees. The post New York City Council approves bill shifting broker fees to landlords appeared first on Boston.
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.
New York City to ban mandatory 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.
Council passes measure banning broker fees for most New York City renters
The legislation would eliminate a fee imposed to be shown an apartment, have an application be processed and sign a lease.
Renters no longer pay broker fees under bill passed by City Council
The New York City Council passed a bill Wednesday to make renting an apartment a little easier. The bill, known as the FARE Act, requires landlords to pay the fee when they hire a real estate broker to market their properties.
Moving to New York City cost us $10K in fees. Those fees are now banned
In a City Council hearing on a bill introduced to ban New York’s broker fee structure, Councilmember Chi Ossé described the fee structure as “an exploitative system that exists virtually nowhere else.” In Boston, legislation that would’ve banned the practice failed to advance earlier this year in the Massachusetts State Senate.
New York City Council passes bill that shifts broker fees to landlords
Opponents of the legislation say the measure could lead to higher rents and argue that landlords could put broker fees into monthly rents.
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.
New York City ditches broker fees despite objections from realtors
New York City landlords will be required to pay costly broker fees for tenants under a plan approved by the City Council that real estate groups argue will drive up rents and make it harder to find housing in the city.
The National Law Review1h
New York City Council Puts an End to the Payment of Brokers' Fees by Residential Tenants - Landlords May Get Stuck with the Brokers' Fees
On November 13, 2024, the Fairness in Apartment Rentals Act (FARE) (the Bill) was approved by the New York City Council (City ...
The Boston Globe3d
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 ...
NYC bans unusual practice of forcing tenants to pay real estate brokers hired by landlords
Tenants searching for an apartment in New York City have long been forced to pay thousands of dollars to real estate brokers.