Overview

• Judge Ronnie Abrams denied the Real Estate Board of New York’s request to pause the law, ruling that challenges to the FARE Act reflect policy disagreements rather than constitutional issues
• The FARE Act prohibits agents acting for property owners from charging prospective renters broker fees and shifts those costs to landlords beginning June 11
• Analysts at StreetEasy project that eliminating upfront broker fees will reduce average moving costs by about 42%, benefiting renters who previously faced fees of up to a month’s rent
• Opponents, including REBNY President James Whelan, warn that landlords may recoup these outlays through rent increases and plan to continue appeals against the law
• The New York City Department of Consumer and Worker Protection will enforce the ban with fines ranging from $750 for initial violations to $2,000 for repeat offenses and renters can file complaints via 311