In most other cities, landlords cover the commission of agents working on their behalf. But legislation backed by a majority of the New York City Council would require landlords who hire brokers to pay their fees, marking a potential sea change in one of the country's most expensive housing markets.
Many predicted landlords would pass on the costs of paying brokers to tenants through increased rents or keep apartments off the market altogether. 'This is the start of a top-down government-controlled housing system,' said Jordan Silver.
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