Renters in NYC may soon see a change as legislation proposes that landlords hiring brokers pay their fees instead of tenants, raising hopes for a fairer system. However, this has sparked opposition from the real estate industry fearing negative impacts on the market and livelihoods of agents.
Brokers in NYC expressed concerns that if landlords are required to cover broker fees, it could lead to landlords passing on costs to tenants through increased rents or choosing not to list apartments, potentially disrupting the rental market and agent businesses.
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