New York City's broker fee bill went into effect on Wednesday, prohibiting property owners from passing broker fees onto renters. REBNY attempted to block the bill's enforcement but failed
The bill shifts responsibility for broker fees from renters to property owners in hopes of easing affordability woes. However, opponents say the bill will only raise costs for renters in the long run
REBNY members on Wednesday demonstrated against the FARE Act, a bill that would require rental property owners to cover the cost of broker fees, rather than pass them off on tenants