NY Post
Tenants will no longer be forced to pay a broker’s fee when renting an apartment in New York City, a report said Wednesday.
The ruling — which was made on Friday and went into effect Wednesday — came as a welcome reprieve for city residents who have been forced to plunk down broker costs in addition to a security deposit and first month’s rent, according to the Wall Street Journal.
New York is one of a few cities in the US where residents are charged a fee to rent an apartment. The move is the latest push to create more favorable rules for tenants.
The apartment listing site StreetEasy said about 45 percent of New York City rental listings last year included a broker’s fee.
Renters may still, however, choose to hire a broker to help them rent an apartment and then pay a fee.
Landlord groups said the change would force them to raise rents on their apartments.
10 comments:
Liberals getting a lesson in unintended consequences in 1, 2, 3 . . .
No problem now landlords will just raise rents $100.
Why such the hostility toward landlords in this city, if a prospective tenant cant pay a broker fee they likely cant afford it.
I think this is a good thing for NYC residents.
"The Rent Is To Dam High" and so are the Broker fees !
Brokers do background checks on potential renters,
Leave your apartments empty rather than rent it to a sec 8 Democrat who will cost you a years rent evicting
"sec 8 Democrat who will cost you a years rent evicting"
More then a years rent, you need to pay the due process servers and court costs.
We had a piece of shit single mom of 3 demand $20,000 in exchange for the keys and legal agreement to vacate. The democrat criminals at NYC DOH even got her help to draw it up such "cash for keys" blackmail.
Lost 14 months rent, over $5000 legal costs, hallway destroyed by kids dragging bicycles, apartment destroyed, crayon walls, every piece of wall & woodwork chipped.
Cops do nothing say "this is a civil matter"
The judge ordered us to keep the heat & electric on or be arrested.
If you rent be sure the unit has its own electric and gas meter in the tenants name-- NEVER INCLUDE IT, NEVER RENT TO A SINGLE MOM WITH KIDS.
Once a newborn or kids are enrolled in school no NYC judge will order a sheriff to boot them till summer vacation at minimum.
Best don't rent at all because NYC treats all landlords like enemy #1
You guys know damn-well right that most of the small landlords in Queens are Democrats. In Astoria where I'm at practically all the six-family buildings are owned by Italians and Greeks who have been supporting Democrats for decades. Did they not realize that the Republicans would one day not be there to save them? In essence, these property owners have caused their own demise and they deserve the downfall that is coming. Enjoy yourselves with diminishing capital gains and less rental income. Someone has to pay for the sanctuary and I'm glad it's you.
>Brokers do background checks on potential renters,
How do you do that? How long until the City makes it illegal?
Realtors must be regulated by the federal reserve, given how they caused the last financial crisis and put Master Appraisors and Professional Engineer Home Inspectors out of business
Once again, the City Council passes a law to help tenants against billionaire landlord consortiums - a law that harms small landlords and insures that the billionaires will get more powerful by driving small landlords to sell.
I miss the old days when you could call Vito and Bruno,non paying tenants usually left in a week,screw the corrupt court system.
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