The City Council approved a bill on Wednesday that would curb a loathed New York City real estate practice: making renters pay thousands of dollars in broker fees.

New York is one of two cities that requires renters to pay for these services; the other is Boston. Typically, such broker fees range from 10% to 15% of a tenant’s annual rent; in a city where the average monthly rent is currently $3,898 per month, renters often must pay several thousand dollars just to move.

A bill to have NYC landlords pay for broker fees, instead of tenants, is up for a vote before the New York City Council.

The broker fee, long a bane of New York City renters, just got voted out. The New York City Council passed a bill Wednesday requiring landlords to pay fees for brokers they hire to list and show apartments.

The New York City Council passed, in a 42-8 vote, a bill that will put an end to forcing tenant-paid brokers fees, as the city looks for strategies to tackle the housing affordability crisis. Now, whoever hires the broker will have to pay their fees.

A New York City Council bill that will shift the burden of paying broker fees to landlords could have “unintended consequences” that lead to higher rents, Mayor Eric Adams said. The New York City Council passed a bill on Wednesday that requires landlords to pay the fee when they hire a

Mandatory broker fees to be banned in New York City, easing the burden on renters - Tenants searching for an apartment in New York City have long been forced to pay thousands of dollars to real estate