New York City Council approves bill shifting broker fees to landlords
14 hours ago · The fee is typically more than one month’s rent, and right now the median rent is roughly $3,400. The City Council approved a bill Wednesday to shift the cost of broker fees to landlords in most ...
What to Know About Broker Fees in New York City
5 hours ago · Broker fees are upfront, one-time payments that are typically one month’s rent or up to 15 percent of the annual rent. Those fees, coupled with a security deposit and first month’s rent, mean ...
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 ...
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.
NYC Council passes bill to end broker fees for tenants in veto …
1 day ago · 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.
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.
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 ...
City Council Approves Rental Broker Fee Reform Bill - The Real Deal
1 day ago · Nov 13, 2024, 3:05 PM. By. Kathryn Brenzel. After years of failed attempts to reform rental broker fees, the City Council on Wednesday approved a measure to free tenants from paying commissions ...
Council passes measure banning broker fees for most New York …
1 day ago · Credit: AFP via Getty Images/ED JONES. Broker fees would be banned for most renters in New York City under legislation passed Wednesday by the City Council with a veto-proof majority. By a vote of ...