NYC broker fee bill becomes law without Adams’s signature

… declined to sign the Fairness in Apartment Rental Expenses FARE Act within a 30day window after approval by the City … support from celebrities such as comedian Ilana Glazer Brokers criticized the bill at an explosive hearing in June … that it would encourage landlords to raise rents But its worth noting that the bills implementation falls under the …

By Celia Young |December 16, 2024 - 3:00PM
The FARE Act is not likely to result in steeply higher rents for new leases

… raise rents significantly for new leases but that outcome does not seem likely The Fairness in Apartment Rentals … wrote … No impact on direct deals … No one knows exactly how this will shake out said Phil Horigan founder of … between owners and brokers Renters will be able to see how much brokers are being paid by the landlord The FARE Act …

By Jennifer White Karp |December 10, 2024 - 4:30PM
Broker fee bill passes with strong support in NYC Council vote

… controversial bill that would force a landlord who hires a rental agent to pay for their services passed in a longawaited New York City Council vote this afternoon The FARE Act introduced by City … Chi Ossé eliminates a major financial hurdle for many renters Typically a renter would be on the hook for a broker …

By Celia Young |November 13, 2024 - 3:30PM
Sparks fly at fiery City Council hearing on broker fee bill

… Real estate brokers and tenants flooded the New York City Councils chambers on Wednesday to debate one question haunting the citys rental market Who should pay the broker fee  The answer at … the tenant But on Wednesday brokers city officials and renters sparred over a contentious bill from City Council

By Celia Young |June 12, 2024 - 3:15PM