Since 11 June 2025 the FARE Act makes the party who hired the broker pay the fee, which in practice moves a month's rent per turnover onto the landlord.
Budget roughly one month's rent per turnover as a recurring operating cost rather than treating leasing as free.
- Paid by
- the party who hired the broker — in practice, the landlord
In effect since 2025-06-11.
Sources
- NYC Fairness in Apartment Rental Expenses (FARE) Act — NYC Local Law 119 of 2024