Housing

NYC Renters Brace for Price Hikes After Broker-Fee Ban

Residential apartment buildings in front of the Manhattan skyline in 2024.

Photographer: Yuki Iwamura/Bloomberg

New York apartment hunters woke up on Wednesday to a market that will no longer force them to pay the fees charged by their landlords’ real estate agents.

A new city law eliminates an upfront moving expense that added thousands of dollars to the costs of signing a new lease for many New Yorkers, hampering their ability to relocate. But there may be a catch: Landlords are determined to find other ways to get tenants to shoulder the fees, including rolling them into the rent.