Apartment hunters in New York City got good news on Wednesday when the City Council there passed a bill that would largely compel landlords, not tenants, to cover broker fees, that expensive charge tacked on to the cost of signing an apartment lease.

There are many costs associated with living in an increasingly expensive New York City, but the broker fee might be the most detested one. Moving into an apartment in the city can easily cost more than $10,

The New York City Council passed a bill Wednesday to have NYC landlords pay for broker fees, instead of tenants.

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 estate industry.

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, whoever hires the broker will have to pay their fees.

Spread the loveOn November 13, 2024, the New York City Council passed a significant bill that shifts broker fees from renters to landlords. This legislation, known as the Fairness in Apartment Rentals Act,