NYC's Broker Fee Ban Takes Effect, Saving Renters Money
TL;DR Summary
A federal judge has approved the implementation of a NYC law banning most broker fees, which is set to take effect on June 11, potentially reducing upfront costs for renters despite opposition from real estate groups. The law aims to address the financial burden of broker fees on tenants, especially low-income renters, and includes penalties for violations. The ruling clears the way for the law's enforcement, with ongoing debates about its impact on rent prices.
- Federal judge clears way for NYC broker fee ban to begin Gothamist
- Looking for an apartment? Here's how the new FARE Act will impact broker fees and the NYC rental market ABC7 New York
- NYC Just Banned Broker Fees on Tenants. Landlords Are Already Jacking Up Rents. WSJ
- Judge Refuses to Block NYC Broker-Fee Law Starting June 11 Bloomberg
- New York renters will save a ton of money on moving starting today Business Insider
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