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NYC considers ending broker fees for tenants, angering real estate industry

Posted on AllSides June 12th, 2024
From The Right

A proposal seeking to eliminate a hefty price tag for New York City renters is drawing fierce opposition from the real estate industry NEW YORK (AP) — It’s a familiar and agonizing experience for legions of New York City renters: before moving into a new apartment, a tenant must first shell out thousands of dollars in fees to a real estate broker, even if that person was hired by the landlord. The hefty one-time payments, known as broker fees, are ubiquitous in New York but nearly unheard of anywhere else....

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