NYC bill shifting broker fees to landlords overwhelmingly …
1 day ago · Published Nov. 13, 2024, 7:11 p.m. ET. Comments. The City Council overwhelmingly approved a bill Wednesday that would largely shift the cost of broker fees to landlords, in a hit to the real ...
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.Now ...
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 ...
NYC Council Votes to End Broker Fees Paid by Renters - Bloomberg
1 day ago · This year, upfront costs to move into a rental with a broker’s fee have averaged $12,951, according to StreetEasy data assuming a 12% fee and also including the first month’s rent and a ...
Continuing Focus on Affordability for Renters, New York City …
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 …
Bill to End Forced Rental Broker Fees Goes to Council Vote With …
2 days ago · Join the community that powers NYC’s independent local news. ... In 2024 so far, the average upfront cost for a New York City rental charging a broker fee, and also including first month’s rent and a security deposit, was $12,951, according to Streeteasy data provided to THE CITY. The company also found that in the first 10 months of the ...
NYC bans unusual practice of forcing tenants to pay real estate brokers …
1 day ago · NEW YORK (AP) — Mandatory broker fees, an unusual feature of New York City apartment hunting long reviled by renters, will be banned under legislation that passed Wednesday after overcoming fierce backlash from the city’s real estate lobby. Under a system that exists in New York and almost nowhere else in the country, tenants are often ...
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 ...
New York City Might Finally Curb Broker Fees for Renters
Jun 12, 2024 · The fee can rise well into the thousands of dollars — on top of a security deposit and first month’s rent — providing a culture shock to people from other cities, where landlords typically ...
City Council Approves Rental Broker Fee Reform Bill - The Real Deal
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 ...
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