Hundreds of tenants and rental brokers descended on City Hall Wednesday to debate legislation that would stop landlords from passing broker fees onto tenants.
A proposal seeking to eliminate a hefty price tag for New York City renters is drawing fierce opposition from the real estate industry. Currently, city renters are often on the
The issue of real estate broker fees came to a head at a heated City Council hearing on Wednesday, when hundreds showed up to testify both for and against a bill that would essentially shift the burden of paying the dreaded fees to landlords.
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It's a familiar and agonizing experience for legions of New York City renters: before moving into a new apartment, a tenant must first shell out thousands of dollars in fees to a real estate broker, even if that person was hired by the landlord.