Boston is one of the last places to allow renter-paid broker fees
1 day ago · In the Greater Boston area, the broker’s fee is usually an entire month’s rent. According to Zumper, the average cost of a Boston apartment was just over $3,000 in November. That puts total move-in cost (first and last months’ rent, security deposit, and a broker fee) at a total of at least $12,000. Broker fees vary, though.
Could Boston be next to ban requiring tenants to pay broker fees?
1 day ago · BOSTON —. Legislation passed this week in New York City leaves Boston as the last major city where tenants can be required to pay hefty fees for real estate brokers hired by their landlords. The ...
NYC bans unusual practice of forcing tenants to pay real estate brokers …
3 days ago · NEW YORK (AP) — Mandatory broker fees, an unusual feature of New York City apartment hunting long reviled by renters, will be banned under legislation that passed Wednesday after overcoming fierce backlash from the city’s real estate lobby. Under a system that exists in New York and almost nowhere else in the country, tenants are often ...
‘An Absolute Mess’: Brokers Assess the Shift in Fees
1 day ago · Mr. Kowalczuk, a broker, outlined a potential scenario for tenants under the terms of the new bill: For an apartment priced at $5,000 per month, a potential broker’s fee of 15 percent of the ...
NYC bill shifting broker fees to landlords overwhelmingly …
3 days ago · The council’s overwhelming support for the legislation came as the average upfront cost of a New York City rental apartment with a broker’s fee reached an all-time high of nearly $13,000 ...
NYC Council passes bill to end broker fees for tenants in veto …
3 days ago · The New York City Council passed, in a 42-8 vote, a bill that will put an end to forcing tenant-paid brokers fees, as the city looks for strategies to tackle the housing affordability crisis.
What to Know About Broker Fees in New York City
3 days ago · Broker fees are upfront, one-time payments that are typically one month’s rent or up to 15 percent of the annual rent. Those fees, coupled with a security deposit and first month’s rent, mean ...
NYC Bans Unusual Practice of Forcing Tenants to Pay Real Estate Brokers …
3 days ago · Nov. 13, 2024, at 4:17 p.m. NYC Bans Unusual Practice of Forcing Tenants to Pay Real Estate Brokers Hired by Landlords. More. NEW YORK (AP) — Mandatory broker fees, an unusual feature of New ...
New York City Council Approves Bill Shifting Broker Fees to …
4 days ago · Moving into an apartment in the city can easily cost more than $10,000 in upfront costs, including a security deposit, first month’s rent and a fee paid to the broker. The fee is typically more ...
New York City Council passes bill that would require ... - CBS News
3 days ago · NEW YORK -- The New York City Council passed a bill Wednesday that shifts the burden of broker fees from tenants to landlords. The Fairness in Apartment Rental Expenses, or F.A.R.E., Act passed ...
- Some results have been removed