NYC Council Introduces Bill Prohibiting Landlords from Collecting Broker Fees from Tenants

This week, NYC Council Member Chi Osse introduced legislation ( Int. 1105) that would prohibit landlords from collecting broker fees from a tenant. The bill stipulates that the collection of a broker fee must be from the party employing such a broker. NYSAR strongly opposes this bill as it is a drastic change from the current model in rental transactions in New York City. A similar bill has been introduced in the State Legislature ( S.2783/A.4781), which did not advance this legislative session. To read NYSAR’s memo in opposition, click here.