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New York City Council Votes to End Broker Fees Squeezing Renters

(www.bloomberg.com)
258 points JumpCrisscross | 1 comments | 13 Nov 24 21:38 UTC | HN request time: 0s | source
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GenerWork ◴[13 Nov 24 22:31 UTC] No.42130920[source]▶
While I do agree with the spirit of this, doesn't this mean that any fees that brokers require will be included in the rent?
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voberoi ◴[13 Nov 24 23:08 UTC] No.42131237[source]▶
The fee will end up somewhere.

If it's in the rent, it's better to amortize the cost of the broker fee over a year vs. pay upfront.

Between the fee + first month's rent + security deposit (+ sometimes an additional month's rent) it is common to have to front 10K - 20K just to get into an apartment here.

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jftuga ◴[13 Nov 24 23:16 UTC] No.42131284[source]▶
What are typical rents for 2 or 3 bedroom apartments that are located in safe neighborhoods?
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1. underlipton ◴[13 Nov 24 23:59 UTC] No.42131610[source]▶
What constitutes a safe neighborhood?

One's personal definition could mean $1000/m difference compared to someone else's.