US EditionNYC ended most broker fees last month. What has the new law done to rents?
3 Articles
3 Articles
After the repeal of the Rent Law, there was great uncertainty among tenants regarding existing contracts, as well as future agreements.After several months, certain questions still remain in some respects.The Necessity and Emergency Decree (UND) determined that rents would be re-registered by the Civil and Commercial Code, and a "free" agreement was established between the parties on issues such as prices, duration, updating formula, among other…
The FARE Act Doomsaying Hasn't Come to Pass—But NYC Real Estate Brokers Are Still Playing Games
When Tamara, a 23-year-old researcher, was looking for a new apartment in the latter half of June for a July 1 move-in date, she knew she had the FARE Act, which took effect on June 11, on her side.The new law meant brokers could no longer try to force her to pay a fee if she didn't hire them. "I had a good amount of brokers try to slip past me with the broker fee, but I simply would just remind them of the new act and make it known that I would…
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