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.
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.
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.
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.
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.
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 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 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.
Would Boston end broker fees for renters, now that New York City is about to?
New York City appears to getting rid of broker fees. In Boston, where 65-percent of residents rent, it's still an issue.
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 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.
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Boston eyes broker fees
MONEY MATTERS — When New York’s City Council passed a measure that would shift the burden of broker fees off of tenants and onto landlords, it sparked the question in Boston: Could the city — ...
Should Boston ban broker fees for renters? Let us know.
Boston is the last major U.S. city to maintain the practice of renter-paid broker fees. Is it time to ban broker fees?