Broker fee ban takes effect in New York City
NEW YORK (PIX11) – Mandatory broker fees are banned in New York City as of Wednesday.
The Fare Act, approved by the City Council last year, has taken effect. The bill automatically became law after Mayor Eric Adams declined to sign it within 30 days of it passing the City Council.
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Supporters said it would provide serious financial relief for renters. Under the previous law, tenants were often forced to pay broker fees even when the broker was hired by the landlord.
The expenses totaled as much as 15% of their rent for the year. The new law also requires all fees to be disclosed in a rental's public listing.
Erin Pflaumer is a digital content producer from Long Island who has covered both local and national news since 2018. She joined PIX11 in 2023. See more of her work here.
Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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