New York City Council approves bill shifting broker fees to …
13 hours ago · The fee is typically more than one month’s rent, and right now the median rent is roughly $3,400. The City Council approved a bill Wednesday to shift the cost of broker fees to landlords in most ...
What to Know About Broker Fees in New York City
5 hours ago · Broker fees are upfront, one-time payments that are typically one month’s rent or up to 15 percent of the annual rent. Those fees, coupled with a security deposit and first month’s rent, mean ...
NYC Council passes bill to end broker fees for tenants in veto …
1 day ago · The New York City Council passed, in a 42-8 vote, a bill that will put an end to forcing tenant-paid brokers fees, as the city looks for strategies to tackle the housing affordability crisis.
City Council votes to relieve renters from paying broker fees with …
1 day ago · The council member said that in his district, many renters have to cough up $12,000 to $15,000 just to rent an apartment. That sum includes first month’s rent, a security deposit and a broker fee.
New York City Council Approves Bill Shifting Broker Fees to …
1 day ago · The City Council approved a bill on Wednesday that would curb a loathed New York City real estate practice: making renters pay thousands of dollars in broker fees. Moving into an apartment in New ...
Bill to End Forced Rental Broker Fees Goes to Council Vote With …
2 days ago · Paying brokers’ fees to rent an apartment might just become a thing of the past for many tenants in New York City. The City Council on Wednesday is poised to pass a revised bill known as the Fairness in Apartment Rentals Act, which requires whomever hired the broker to pay the fee.. The original bill simply put the hiring party on the hook for the fee.
Continuing Focus on Affordability for Renters, New York City Council ...
1 day ago · Council also voted on bills authorizing Charter Revision Commission and establishing plant waste composting in city parks. City Hall – Today, the New York City Council voted to pass legislation that would reform broker fees to increase affordability for renters.New York City is in the midst of a housing and affordability crisis, with working- and middle-class residents struggling to …
City Council Approves Rental Broker Fee Reform Bill - The Real …
1 day ago · Nov 13, 2024, 3:05 PM. By. Kathryn Brenzel. After years of failed attempts to reform rental broker fees, the City Council on Wednesday approved a measure to free tenants from paying commissions ...
New York City Council Votes to End Broker Fees Squeezing Renters
1 day ago · A bill proposed to the council in 2019 that tried to cap rental agents’ fees at no more than one month of rent never made it to a vote. And on the state level, legal guidance issued on the ...
New York City Council passes bill that would require ... - CBS News
1 day ago · NEW YORK -- The New York City Council passed a bill Wednesday to have landlords pay for broker fees, instead of tenants. The Fairness in Apartment Rental Expenses, or F.A.R.E., Act passed, getting ...
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