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Recent News

City Council passes bill shifting broker fee burden to landlords, sparking backlash from real estate industry and key critics

Nov. 14, 2024 By Ethan Stark-Miller and QNS News Team

The New York City Council passed a landmark bill on Wednesday, aiming to relieve renters of paying hefty broker fees — a cost that will now fall on the party who hires the listing agent. Known as the FARE Act (Fairness in Apartment Rentals), the legislation passed with a veto-proof majority of 42-8, despite opposition from Republicans and conservative Democrats.