FARE Act takes effect: What NYC renters need to know about the new broker fee law

… to prevent the laws implementation Since the fee is usually 12 percent of the annual rent the Fairness in Apartment … rent increases more on this below In November the City Council approved the Fare Act introduced by Council member … monthly rent Fiegler provided the following scenario A one bedroom that was $3500 now lists for $3780$3900 Instead of …

By Jennifer White Karp |June 10, 2025 - 3:00PM