Author Topic: NYS new rent regulations laws  (Read 1393 times)

Offline ExGingi

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Re: NYS new rent regulations laws
« Reply #15 on: February 07, 2020, 01:54:56 PM »
https://www.nytimes.com/2020/02/06/nyregion/nyc-brokers-fees-ban.html

https://www.nytimes.com/2020/02/05/nyregion/nyc-landlord-rental-broker-fees.html


Wow. In one swoosh, a (somewhat shady) industry fundamentally transformed.

The big difference between Landlords paying the fee to the (residential) tenants paying the fee is in whether a 1099 will be issued. HUGE hit to the brokers.

The other difference being that the tenant seeking an apartment is likely to have a one time or short time relationship, whereas the landlords would have a longer relationship, which would come into play in negotiating fees as well as rental rates.
I've been waiting over 5 years with bated breath for someone to say that!
-- Dan

Offline mercaz1

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Re: NYS new rent regulations laws
« Reply #16 on: February 07, 2020, 02:09:16 PM »
a lot of brokers are going to be out of work due to this law

Offline ExGingi

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Re: NYS new rent regulations laws
« Reply #17 on: February 08, 2020, 10:06:20 PM »
I've been waiting over 5 years with bated breath for someone to say that!
-- Dan