The FARE Act is not likely to result in steeply higher rents for new leases

… to New York Citys broker fee bill argued it will raise rents significantly for new leases but that outcome does not seem likely The Fairness in Apartment Rentals Expenses Act which passed a City Council vote in … with a landlord choosing to raise the monthly rent by 7 to 10 percent to compensate for paying a broker fee Broker fees …

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 … Chi Ossé eliminates a major financial hurdle for many renters Typically a renter would be on the hook for a broker fee of around 10 to 15 percent of the annual rent even if they didnt hire …

By Celia Young |November 13, 2024 - 3:30PM