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New York Brokers React on Social Media to Rental Fee Change

Here’s what TRD’s Instagram followers are saying about the broker fee ban

The sudden reversal of New York’s tenant-pays-broker-fee system last week prompted fierce reaction from agents. In the hours and...

Here’s what TRD’s Instagram followers are saying about the broker fee ban
REBNY President Jim Whelan (Credit: iStock; Whelan by Anuja Shakya)

Rental commissions are back — for now

Rental commissions are back! A New York judge granted a temporary restraining order Monday afternoon, halting a Department of State guidance barring tenant-paid rental commissions from going into effect. The guidance, circulated Feb. 4,...

Rental commissions are back — for now
REBNY President James Whelan (Credit: iStock; Whelan photo by Anuja Shakya)

Stop the “havoc and confusion:” Industry petitions to overturn ban on broker fees

Early Monday morning, attorneys for the real estate industry boarded a train to Albany to file a fiery petition...

Stop the “havoc and confusion:” Industry petitions to overturn ban on broker fees
Here’s how landlords and property managers are dealing with the changes to broker fees (Credit: iStock)

“I feel really bad for those agents”: How landlords and property managers are responding to broker fee rule

Within 36 hours of finding out about state regulators’ interpretation of the rent law, Lisa Management made the decision: It would no longer hire...

“I feel really bad for those agents”: How landlords and property managers are responding to broker fee rule
New York Community Bank CEO and president Joseph Ficalora (Credit: Facebook, iStock)

Community banks put on brave face after rent-reg market woes

For years, New York’s community banks have been go-to lenders for rent-regulated housing. Now they’re straining to convince investors...

Community banks put on brave face after rent-reg market woes
From left: Douglas Elliman's Howard Lorber, Brown Harris Stevens' Bess Freedman, REBNY's James Whelan, Bohemia Realty's Sara Saltzberg and Corcoran's Pam Liebman

Real estate industry to sue NYS over rental commission ban

Faced with the prospect of losing millions of dollars in commissions, the real estate industry plans to sue state...

Real estate industry to sue NYS over rental commission ban
Top row, from left: Warburg Realty's Frederick Peters, Compass' Rory Golod and R New York's Stefani Berkin; bottom row, from left: Bohemia Realty Group's Sarah Saltzberg, Corcoran Group’s Gary Malin, Triplemint's Philip Lang and Bold New York's Jordan Sachs

Ignore or adhere: Brokerages divided in response to rental fee ban

UPDATED, Feb. 7, 2020, 3:15 p.m.: Sarah Saltzberg got an email alerting her to state regulators’ new interpretation of...

Ignore or adhere: Brokerages divided in response to rental fee ban
Following the latest rule changes in New York, Boston appears to be the last major city where tenant-paid broker fees are common practice.

Broker fees for NYC rentals mystified outsiders. Here’s how other US cities do it

New York City’s rental market broker fee system, which has been especially perplexing for out-of-towners, is now mostly a...

Broker fees for NYC rentals mystified outsiders. Here’s how other US cities do it
Boston Mayor Martin Walsh (Credit: Getty Images)

Boston takes a cue from New York, looks to reverse broker fee system

First New York, now Boston? Following New York’s example, Boston is considering eliminating its rental broker fees, the Boston...

Boston takes a cue from New York, looks to reverse broker fee system
(Credit: iStock)

Tenant advocates celebrate landlords’ having to pay broker fees

Broker fees have long been onerous and annoying for New York City apartment hunters, who often find themselves paying...

Tenant advocates celebrate landlords’ having to pay broker fees
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