Changing broker fees helps all for NYC rentals

The months-long debate over the New York City Council’s Fairness in Apartment Rental Expenses (FARE) Act has reached a fever pitch as the bill moves to a vote this week. The FARE Act would be a win for transparency, mobility, and affordability in New York, ensuring that agents are fairly compensated by the parties that hired them, rather than overburdening tenants with the cost of services they didn’t hire. The bill brings New York City’s rental market in line with nearly every other city in the country.