The article reflects on the challenges faced by renters in New York City, particularly focusing on the burdensome costs associated with broker's fees and high rents. The author's experience highlights the shock of navigating the rental market, where fees can significantly increase moving expenses. The introduction of the Fairness in Apartment Rental Expenses (FARE) Act is poised to alleviate these financial pressures by placing the responsibility of broker's fees on landlords rather than tenants, aspiring to create a more equitable rental environment for future renters.
The FARE Act promises to alleviate the financial burden renters face by shifting broker's fees from tenants to landlords, fostering a fairer rental market in New York City.
After months of searching, I found my perfect apartment, only to face shocking costs, including high rent and broker's fees that typically add thousands to moving expenses.
For many new renters, the experience is daunting; the FARE Act aims to change the dynamics of rental transactions, making it more equitable for tenants.
The lack of regulation on broker's fees allows for exorbitant charges, which the FARE Act seeks to mitigate by placing more responsibility on landlords.
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