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 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.
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.
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.
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.
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.
How this City Council Member just eliminated NYC's broker fees
NEW YORK -- On Wednesday, November 14th, 2024, the New York City Council voted the Fairness in Apartment Rentals Act, or FARE Act, into law. The act states that in New York City, when it comes to rental properties, the party that hires the broker must be the one to pay for their services.
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.
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.
How this City Council Member just eliminated NYC's forced broker fees
Up until now, many New York City residents were subjected to broker fees when moving into rental units despite not having hired the broker themselves. These broker fees have been recognized as financial hurdles for many lower-income New Yorkers,
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On Politics: Good riddance to broker fees
Don’t believe the real estate industry’s arguments against the bill shifting fees to landlords, writes columnist Ross Barkan.
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Bill to End Forced Rental Broker Fees Goes to Council Vote With Near Veto-Proof Support
The amended version also requires the landlord or broker to disclose all fees tenants pay up front, and stipulates that ...
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Boston is one of the last places to allow renter-paid broker fees
In the Greater Boston area, the broker’s fee is usually an entire month’s rent. According to Zumper, the average cost of a ...