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The FARE Act: What NYC Renters Need to Know
What is the FARE Act?
The Fairness in Apartment Rental Expenses (FARE) Act is a New York City law that shifts the responsibility for paying broker fees from tenants to the party who hired the broker. If your landlord hired the broker to find a tenant, the landlord pays the fee — not you.
When did the FARE Act take effect?
The FARE Act was signed into law and took effect on June 11, 2025. It applies to all new leases signed after that date. If you signed your lease before June 11, 2025, the old rules apply.
Who pays the broker fee now?
Under the FARE Act, whoever hires the broker pays the fee. In most cases, this means the landlord pays because landlords typically hire brokers to list and fill their apartments. However, if you hire a broker to help you find an apartment, you would still pay the fee.
Does the FARE Act apply to all apartments?
The FARE Act applies to most residential rentals in New York City, including rent-stabilized apartments, market-rate apartments, and condos/co-ops being rented out. It does not apply to commercial leases or properties outside NYC.
What if my landlord still charges me a broker fee?
If a landlord or broker tries to charge you a fee for a broker they hired, this violates the FARE Act. You can file a complaint with the NYC Department of Consumer and Worker Protection (DCWP). Penalties for violations can include fines and required refunds.
Can I still use a broker?
Yes. If you want help finding an apartment, you can hire your own broker (sometimes called a tenant's broker or rental agent). In that case, you would be responsible for paying your broker's fee. The FARE Act only changes who pays when the landlord hires the broker.
How much is a typical NYC broker fee?
Traditionally, NYC broker fees range from one month's rent to 15% of the annual rent. For a $3,000/month apartment, that's $3,000 to $5,400. Some brokers charge a flat fee, typically one month's rent. With the FARE Act, many "no fee" listings are now available since landlords absorb the cost.
What Does It Cost to Move Into an NYC Apartment?
Beyond the broker fee, here's what you should budget for when moving into a new apartment in New York City:
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