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

… in Apartment Rentals FARE Act removes a significant upfront cost to renterssaving renters an average of $5404 … which predicts the new law will lower average upfront costs for rentals currently charging a broker fee by 418 … to $7537 Upfront costs include first months rent and a security deposit equivalent to one months rent … When you do …

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