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Bill to End Forced Rental Broker Fees Goes to Council Vote With Veto-Proof Support
Mayor Eric Adams says he’ll weigh what to do about the measure, while real estate industry launches campaign warning of unintended consequences. This article originally appeared in The City. By Samantha Maldonado Follow @x NEW YORK - Paying brokers’ fees to rent an apartment might just become a thing of the past for many tenants in New York City. The City Council on Wednesday is poised to pass a revised bill known as the Fairness in Apartment Rentals Act , which requires whomever hired the broker to pay the fee. The original bill simply put the hiring party on the hook for the fee. The new version directly states that a broker who publishes a listing for a property for rent is to be paid by the landlord. The amended version also requires the landlord or broker to disclose all fees tenants pay up front, and stipulates that before a tenant signs a lease, the landlord or broker must provide an itemized list of fees...
