New York City ends broker fees for new tenants in cost-cutting move

Move can significantly lower upfront expenses for renters in city with one of the world’s highest costs of living

The New York City council passed a bill on Wednesday that will prevent tenants from having to pay fees to brokers hired by landlords.

The move can significantly lower upfront expenses for renters in a city with one of the highest costs of living in the world. The median asking rent in New York City was $3,500 in 2023.

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