New York City is about to make landlords cover most brokers fees. So why not Boston?
Apartment hunters in New York City got good news on Wednesday when the City Council there passed a bill that would largely compel landlords, not tenants, to cover broker fees, that expensive charge tacked on to the cost of signing an apartment lease.
Boston is one of the last places to allow renter-paid broker fees
In the Greater Boston area, the broker’s fee is usually an entire month’s rent. According to Zumper, the average cost of a Boston apartment was just over $3,000 in November. That puts total move-in cost (first and last months’ rent, security deposit, and a broker fee) at a total of at least $12,000.
who secured him an apartment for $2,250 per month with a broker fee of $2,500. New York City and Boston are the only U.S.
The Council on Wednesday approved the revised FARE Act, shifting broker fees from tenants to the hiring party, typically ...
The New York City Council passed, in a 42-8 vote, a bill that will put an end to forcing tenant-paid brokers fees, as the ...
The City Council considered a bill in 2019 that would have capped the fees at one month’s rent, but it stalled after brokers ...
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