If you’re a New York renter, the unthinkable has happened: State regulation enacted in June 2019 officially states that broker fees are no longer the tenant’s responsibility to pay unless a tenant advertently hires the broker, according to the DOS. In addition, tenants cannot be charged more than $20 in fees when applying for an apartment. Both of these fees have long been ingrained in the NYC real estate market, despite high price tags for disproportionately little to no value in service provided, that could (and will) now be provided by landlords. In fact, if you paid a broker fee after June 14, 2019, you could be eligible to be fully reimbursed.
NYC 86's Apartment Broker Fees
By moneyredpill | MoneyRedPill | 7 Feb 2020
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