How NYC’s New Law Will Backfire on Renters
Update: 2024-11-15
Description
On this week’s episode of The Lieb Cast, we unpack the Fairness in Apartment Rental Expenses (F.A.R.E.) Act, the controversial new law passed by NYC’s City Council that shifts broker fees from tenants to landlords. The law promises to ease financial pressure on renters - but will it actually work?
We analyze the nuances of this legislation, discussing what renters, landlords, and brokers need to know and how this shift in broker fee responsibility could reshape the housing market. From unintended rent increases to potential changes in housing availability, we break down the ripple effects this law may have on NYC's already complex rental landscape.
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