The NYC rental broker fee has been eliminated following the passing of the FARE Act by the city council. This new legislation puts an end to tenant-paid rental broker fees in cases where brokers exclusively represent landlords.
Key points:
– NYC rental broker fee abolished with the passing of the FARE Act
– Tenant-paid rental broker fees prohibited when brokers solely represent landlords
– City council decision aimed at relieving financial burden on tenants and increasing transparency in rental transactions.
You can read this full article at: https://www.housingwire.com/articles/new-york-city-council-rental-broker-fee/(subscription required)
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