Are tenants still paying broker fees?

[Gantz]

I think it should be simple:
1. If the landlord hires a broker - they have to pay the fee (include it into the rent if you have to).
2. If the person looking for an apartment asks a broker to look for an apartment for them - they have to pay the fee.

I believe this way a lot of these middle men between landlords and tenants will be eliminated, as a lot of landlords will just choose to list their own properties online or place their own ads.

[jen5276]

Originally Posted by Esacni

Don't you mean the renters are stupid? No one's forcing anyone to pay.
Most of the problem lies with transplants who are mostly clueless.

It’s literally impossible to get an apartment without a broker these days.

[mathjak107]

Yes , most buildings only go through brokers not directly

[Esacni]

Originally Posted by jen5276

It’s literally impossible to get an apartment without a broker these days.

That's true but it's mainly because the huge transplant wave post 2008 changed the rental market. Same with rents of 2+ bedroom apartments. 2 and 3 bedroom apartments used to be occupied mainly by families. Then came the wave of 30 year old children who lived with roommates.

NYC LL's aren't dumb. They started to cater to this cohort because they were more profitable.

[Marieleia]

New York made it illegal for landlords to charge a broker's fee, but that new law is no longer in effect, and brokers can continue to charge a fee.