NYC City Council considers a bill (FARE Act) to potentially cap or remove broker fees for renters, shifting responsibility from tenants.
NYC City Council is considering a bill to potentially cap or remove broker fees for renters, which often cost renters more than $10,000. The bill proposes that whoever hires a rental broker should pay the broker's fee, shifting responsibility from tenants. The Fairness in Apartment Rental Expenses Act (FARE Act) is set for debate, with concerns that shifting fees to landlords may lead to increased rents overall.
June 11, 2024
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