FARE Act becomes law without Mayor Adams' signature, shifting NYC broker fee costs from tenants to landlords | amNewYork

The FARE Act aims to relieve New York City tenants from the burden of real estate broker fees, shifting those costs to landlords instead.

Despite opposition, the City Council passed the FARE Act with a veto-proof majority, indicating strong legislative support despite the mayor’s concerns over potential rental increases.

Mayor Eric Adams expressed concerns about the FARE Act, suggesting it could lead to higher rents as landlords might pass along their costs to tenants.

City Council Speaker Adrienne Adams hailed the FARE Act as a significant advancement in addressing housing affordability for New Yorkers.

Read at www.amny.com