NYC bans unusual practice of forcing tenants to pay real estate brokers hired by landlords
Associated Press
NEW YORK (AP) — Tenants searching for an apartment in New York City have long been forced to pay thousands of dollars to real estate brokers. That was true even if that person was hired by the landlord. But a new bill passed Wednesday would shift those costs to landlords, bringing New York in line with most of the rest of the country. Renters are celebrating the change. But brokers and landlords say it could have dire consequences for an industry that employs some 25,000 agents. The bill passed by a vote of 42 to 8, a veto-proof margin. It takes effect in six months.
