Brokers may only charge tenants when the tenant has hired them directly. If the landlord retains the broker, the landlord pays — and the listing must clearly state who is responsible.
Brokers may only charge tenants when the tenant has hired them directly. If the landlord retains the broker, the landlord pays — and the listing must clearly state who is responsible.
Listings must contain a written disclosure of broker fee responsibility. Charging the tenant a broker fee for a landlord-retained broker is a per-violation offense.
Up to $2,000 per violation; class-action exposure.
Enforced by: NYC DCWP
https://www.nyc.gov/site/dca/businesses/fare-act.page
Latest proposed and final regulatory updates.
DCWP issues enforcement guidance on FARE Act: test-purchase program targeting Apartments.com and Zillow listings begins April 1.