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NYC landlords can't require tenants to pay broker fees anymore

  Copy link into your clipboard //travel-leisure.news-articles.net/content/2025/ .. -require-tenants-to-pay-broker-fees-anymore.html
  Print publication without navigation Published in Travel and Leisure on by Fortune
  • 🞛 This publication is a summary or evaluation of another publication
  • 🞛 This publication contains editorial commentary or bias from the source
Though there was technically no cap on these fees, they averaged around 12% to 15% of the annual rent of the listing.
The article from Fortune, published on June 12, 2025, discusses a new policy in New York City aimed at shifting the burden of broker fees from tenants to landlords. Traditionally, tenants in NYC have been responsible for paying broker fees, which can amount to as much as 15% of the annual rent. The new regulation, set to take effect later in the year, mandates that landlords cover these fees, a move intended to alleviate financial pressure on renters. The policy has sparked a mix of reactions; tenant advocacy groups applaud the change as a step towards fairer housing practices, while some landlords and real estate agents express concerns over potential increases in rent to offset the new costs. The article also highlights the broader context of rising living expenses in the city and the ongoing efforts to address housing affordability.

Read the Full Fortune Article at:
[ https://fortune.com/2025/06/12/nyc-landlords-tenant-broker-fees/ ]