The FARE act is legislation requiring landlords to cover all broker fees unless the renter has specifically hired the broker. This move aims to alleviate the financial burden on renters, who often face high upfront costs when leasing apartments in NYC. If passed it would be there most transformative renters legislation in half a century, in the biggest city in the US.
About the Bill (Intro 360)
The fine print: This bill would require whichever party hires a broker in a rental transaction, whether landlord or tenant, pays the broker fee. Currently, tenants often pay thousands of dollars in fees to the broker hired by the landlord. Tenants should have the ability to find an apartment on their own on platforms like streeteasy without being forced to pay for an agent they never hired.
AKA: If you higher the broker, you pay the broker fees.
☆ This legislation aims to alleviate the financial burden on renters by shifting the responsibility of broker fees from tenants to the hiring party, promoting a fairer and more equitable rental market and allowing New Yorkers to move into a new home without being stifled by high upfront costs.
☆ By mandating that the hiring party covers broker fees, the legislation simplifies the rental process for tenants, reducing upfront costs and making it easier for individuals and families to secure housing in New York City's competitive market.
☆ This legislation encourages a more transparent housing market by clearly delineating the costs associated with renting, thereby allowing renters to make more informed decisions without the surprise of additional fees.
☆ Young people get hit the hardest by moving costs including broker fees, this kind of legislation can take some pressure off of the demographic that often moves the most.
☆ Last year, nearly half of NYC council members supported the bill, and tens of thousands of dollars were spent by the real estate industry to prevent the chamber from voting on it. This year, a majority of the Council has signed on again in support. Now it’s up to us to loudly support the bill until it passes.
☆ Over a dozen NYC unions and advocacy groups proudly support The FARE Act.
Chi Ossé
Intro 360 Sponsor
Chi Ossé is a New York City Council Member representing the 36th District. Elected in 2021, Ossé is known for his activism and advocacy on social justice, police reform, and housing affordability issues, bringing a progressive voice to city governance.
By the Numbers
$50k
New Yorkers to spend anywhere from $2-10k+ just to move residences within the city. Broker fees are a substantial part of these moving costs. This fee can range from one month's rent to 15% of the annual rent.
Miami, FL
San Francisco, CA
These are just two cities where landlords paying the broker fees, instead of renters, is the norm.
$1B
Broker fees, traditionally paid by renters, represent a significant source of income for brokers and real estate agencies, with estimates suggesting that the industry collects around one billion dollars annually from these fees alone.
Find Your Council Person
Council Person:
Name (toggle the map)
Phone Number
District:
District Number
Contact Your Council Person
Use the "Find Your Council Person" tool above to preload your council member's information. Any information you put in the form will not be stored.
Email Template/ Phonecall Script:
This email will populate with your unique information as you fill out the form in the tool above. The email template doubles as a script should you opt to call your representative to push for their support. Your council member's phone number: Phone Number.
Dear Council Member [Council Member name],
[Make your message unique, write an opener!]
My name is [Your Name], and I am one of your constituents. The Fairness in Apartment Rental Expenses (FARE) Act has just been reintroduced. The bill is simple, requiring that whichever party hires a broker pays the broker fee in rental transactions. New York City needs this bill to become law. New York City is unique in tenants paying for a landlord’s broker fee. It’s time for that system to change, and you have the power to change it. I am calling on you to sign on as a co-sponsor of the FARE Act and vote it into law. The people of your district need you to act.
Sincerely,
[Your Name]
Milestones
Re-Introduction [We are here]
The process of presenting a previously considered bill again to the New York City Council for deliberation and voting. Public pressure can highlight the importance of the bill to constituents, encouraging council members to reconsider and prioritize its re-introduction based on voter demand.
Rally
An event where supporters gather to demonstrate and advocate for the bill's passage, aiming to garner public and political support. Rallies can visibly demonstrate public support, swaying council members by showcasing the strength and unity behind the bill, making it harder to ignore.
Hearing
A formal meeting where council members, stakeholders, and the public discuss the bill, providing testimonies and opinions for or against it. Outreach to council members before hearings can influence the discourse, ensuring that the perspectives and concerns of constituents are addressed, potentially shaping the committee's stance.
Voted out of Committee (1st Vote)
The stage where a specialized committee within the council votes in favor of the bill, moving it forward to the full council for a final vote. Contacting committee members can emphasize the bill's significance to their constituents, pushing them towards a favorable vote to reflect the public's interests.
Voted in the Chamber (2nd Vote)
The action where the entire New York City Council votes on the bill, deciding whether it passes or fails. Widespread public outreach can create a sense of urgency and accountability, persuading council members to vote in favor of the bill due to constituent expectations and potential electoral implications.
Signed into Law by Mayor Eric Adams
The final approval stage where Mayor Eric Adams can either veto or sign the passed bill, officially enacting it into law. Public campaigns and direct appeals to the Mayor can underline the community's support for the bill, encouraging the Mayor to sign it into law to align with public sentiment and fulfill political commitments.