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New York City Council Votes to End Broker Fees Squeezing Renters

(www.bloomberg.com)
258 points JumpCrisscross | 3 comments | 13 Nov 24 21:38 UTC | HN request time: 0.293s | source
1. 535188B17C93743 ◴[13 Nov 24 22:41 UTC] No.42131014[source]▶
Didn't they do this before and brokers found a way around it?
replies(2): >>42131748 #>>42133184 #
2. standardUser ◴[14 Nov 24 00:18 UTC] No.42131748[source]▶
Good question. I rented my first and so far only NYC apartment in 2021 and I did not have to pay a broker fee. Apparently, I had very good timing...

"In 2020, interpreting a tenant protection law passed by the legislature, the New York Department of State issued guidance that prohibited brokers hired by landlords from charging tenants. The Real Estate Board of New York challenged the restriction in a lawsuit, resulting in a state court overturning the ban in 2021."

https://council.nyc.gov/shaun-abreu/2024/06/11/the-city-what....

3. rgrmrts ◴[14 Nov 24 04:32 UTC] No.42133184[source]▶
The law didn’t pass or was quietly killed, presumably due to pressure by lobbyists representing rental agencies.