The Community Service Society of New York
11/13/2024 | Press release | Distributed by Public on 11/13/2024 14:21
Press Release: CSS Commends New York City Council for Passing “the FARE Act”
November 13th, 2024
Press Release
CSS Commends New York City Council for Passing "the FARE Act"
Mandates that tenants will only be responsible for a broker fee if they hire the broker
The Community Service Society of New York (CSS) commends the New York City Council for passing the FARE Act (Intro 360) introduced by Council Member Chi Ossé mandating that tenants will only be responsible for a broker fee if they hired the broker. In turn, if the broker is working for the building owner, which is often the case, the fee will be paid by the landlord.
It is a simple and clear principle that CSS has been advocating for years. Council Member Ossé's bill undoes a disastrous decision by an Albany County judge who prevented New York State from implementing a broker fee ban in 2021. Prior to that decision, state lawmakers crafted legislation introducing comprehensive reforms to New York's rent laws. When state lawmakers passed the historic Housing Stability and Tenant Protection Act in 2019, it eliminated broker fees, along with other unreasonable tenant application fees, unless a tenant hired the broker.
From our annual Unheard Third survey, we know that New York renters rarely have enough money to cover exorbitant broker fees which can add as much as 15 percent to annual rent for the apartment. This represents a financial barrier to low-income renters' ability to move out of their homes into better homes, many of whom are Black and brown with limited savings.
By passing this legislation, the City Council has taken a simple, straightforward and sensible step to remove a large financial burden off the backs of tenants while bringing down the cost of living in the city.
We urge the mayor to sign the legislation into law.
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The Community Service Society of New York (CSS) has worked with and for New Yorkers since 1843 to promote economic opportunity and champion an equitable city and state. We power change through a strategic combination of research, services, and advocacy to make New York more livable for people facing economic insecurity. By expanding access to health care, affordable housing, employment opportunities, debt assistance, and more, we make a tangible difference in the lives of millions. Join us at www.cssny.org.