New York City ditches broker fees

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.
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.
New York City is about to make landlords cover most brokers fees. So why not Boston?
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.
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.
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.
Could Boston follow New York City in ban on requiring tenants to pay broker fees
Legislation passed this week in New York City leaves Boston as the last major city where tenants can be required to pay hefty fees for real estate brokers hired by their landlords.
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.
New York City Bans Renters From Being Forced To Pay Broker Fees
New York City has steep broker fees, which often cost tenants up to 15% of the first year's rent. It can add thousands of dollars to the money renters need to come up with ahead of signing a lease. The legislation,
‘An Absolute Mess’: Brokers Assess the Shift in Fees
The New York City Council has passed a bill that would require landlords to pay for the rental brokers they hire. Some ...
NYC broker fee law requires landlords to cover the cost, not tenants
A bill to have NYC landlords pay for broker fees, instead of tenants, is up for a vote before the New York City Council.
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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 ...