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 requiring landlords to pay fees for brokers they hire to list and show apartments.
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.
Moving to New York City cost us $10K in fees. Those fees are now banned
New York is one of two cities that requires renters to pay for these services; the other is Boston. Typically, such broker fees range from 10% to 15% of a tenant’s annual rent; in a city where the average monthly rent is currently $3,898 per month, renters often must pay several thousand dollars just to move.
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.
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.
NYC Council votes to end forced broker fees
The Council on Wednesday approved the revised FARE Act, shifting broker fees from tenants to the hiring party, typically landlords.
New York City Council Votes to End Broker Fees Squeezing Renters
New York renters would no longer be on the hook for costly broker fees when signing a new apartment lease, under a measure passed by the city council Wednesday.
New York City Council passes bill that would require landlords to pay for broker fees, not tenants
The New York City Council passed a bill Wednesday to have NYC landlords pay for broker fees, instead of tenants.
NYC Council to vote on shifting brokers' fees from renters to landlords
The New York City Council is expected to vote on a bill Wednesday that would shift brokers fees from renters to landlords.
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 ...
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 ...
New York Post3d
Average upfront cost for an NYC apartment with broker’s fee hits whopping all-time high
Getty Images The average upfront cost of a Big Apple rental apartment with a broker’s fee has reached an all-time high — nearly $13,000, a new analysis shows. The whopping amount includes the ...
Black Enterprise3d
Average Cost Of Renting NYC Apartments, Including Broker’s Fee, Hits $13K
A new analysis exposes the steep fees New York City brokers charge renters, with costs reaching as high as $13,000. A recent study by rental-listing company StreetEasy shows that the average ...
Gothamist3d
Bye-bye broker fee: NYC Council approves bill to eliminate fee for most tenants
An analysis earlier this month by the real estate listings firm StreetEasy found tenants pay an average of nearly $13,000 in upfront costs for apartments subject to broker fees. That total ...