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.
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.
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.
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 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 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.
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 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 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 Council) prohibiting the imposition or collection of any fee or commission for the rental of residential real property.
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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City Council passes bill shifting broker fee burden to landlords, sparking backlash from real estate industry and key critics
The New York City Council passed a landmark bill on Wednesday, aiming to relieve renters of paying hefty broker fees — a cost ...
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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 ...
New York City Votes to End One of Renters’ Biggest Complaints: the Broker Fee
The broker fee, long a bane of New York City renters, just got voted out. The New York City Council passed a bill Wednesday ...
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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 ...
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 ...