New Act Proposes to End Mandatory Broker Fee for Tenants, New Yorkers React

Fiona Ji
By Fiona Ji
June 12, 2024NTD Evening News

New York City Council member Chi Ossé held a rally outside City Hall on Wednesday, calling on lawmakers to pass his Fairness in Apartment Rental Expenses (FARE) Act. The rally came right before a public hearing was set to take place inside City Hall.

Mr. Ossé said the act would require whoever hires a broker to pay the broker fee, instead of always requiring the tenant to pay.

Supporters of the bill say that working-class renters cannot afford to pay broker fees, and consequently cannot afford to move. Protesters against the bill say that removing the payment requirement for tenants will cause landlords to increase rent and restrict brokers’ ability to do their jobs.