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

… Citys broker fee bill argued it will raise rents significantly for new leases but that outcome does not seem likely … lobbied against the legislation with claims that landlords would add broker fees to the rents they charge for new leases in essence creating higher base rents …

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

A big shakeup is in store for broker fees in New York City Aapartment from collecting a fee from the renter It does not mandate that a tenant pay their own broker The bill … is a win for the people of New York as we make official what has long been common sense Ossé said during the vote …

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