NYC Council passes bill to end broker fees for tenants in veto …
1 day ago · The New York City Council will hold a vote on Wednesday on the Fairness in Apartment Rentals Act, a bill that would end broker fees for tenants. If passed and signed by the mayor, the legislation ...
NYC bill shifting broker fees to landlords overwhelmingly …
1 day ago · Published Nov. 13, 2024, 7:11 p.m. ET. Comments. 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 ...
NYC bans unusual practice of forcing tenants to pay real estate brokers …
1 day ago · NEW YORK (AP) — 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. Under a system that exists in New York and almost nowhere else in the country, tenants are often ...
New York City Council Approves Bill Shifting Broker Fees to …
1 day ago · Moving into an apartment in the city can easily cost more than $10,000 in upfront costs, including a security deposit, first month’s rent and a fee paid to the broker. The fee is typically more ...
Can NYC Landlords Make You Pay a Broker Fee? Not Anymore.
1 day ago · A first attempt to kill the compulsory broker fee happened in 2020, after the state legislature passed a slate of tenant protections and the New York Department of State issued a surprise guidance ...
Bye-bye broker fee: NYC Council approves bill to eliminate fee for …
1 day ago · The fees typically equal around 15% of the yearly rent — $6,300 for a $3,500-per-month apartment, for example — and go to the broker who listed or showed the unit.
Bill to End Forced Rental Broker Fees Goes to Council Vote With …
2 days ago · What to Know About New York’s Latest Attempt to End Forced Broker Fees for Renters Date June 11, 2024, 5:00 a.m. Rental Broker Fee Bill Nears Veto-Proof Support as Council Hears Raucous Public Reactions Date June 12, 2024, 3:56 p.m. Renters Don’t Have to Pay Brokers’ Fees Anymore. Here’s What You Need to Know Date Feb. 10, 2020, 4:16 p.m.
New York City Tenants Kiss Broker Fees Goodbye - realtor.com
1 day ago · Until now, tenants had been footing the bill for the broker fees charged to the landlord or management firm, which can be “up to 15% of their first year’s annual rent,” says Nikki Beauchamp ...
NYC on Brink of Ending ‘Killer’ Broker Fees That Squeeze Renters
1 day ago · New York City renters may no longer be on the hook for costly broker fees when signing a new apartment lease. The city council is poised to pass the Fairness in Apartment Rental Expenses , or FARE ...
Should NYC landlords cover broker fees? Here's what the City ... - CBS News
1 day ago · NEW YORK -- The New York City Council passed a bill Wednesday to have landlords pay for broker fees, instead of tenants. The Fairness in Apartment Rental Expenses, or F.A.R.E., Act passed, getting ...