Exclusive | Rents jumping shocking 15% after NYC ditches broker fees: ‘It’s discouraging’
Key Takeaways
🚨 Rents surged 15% in the first week after the FARE Act banned tenant-paid broker fees, with the average NYC rent jumping from $4,750 to $5,500 .
📉 Listings plummeted 30%, creating a “shadow market” where landlords avoid public ads and rely on word-of-mouth .
💸 Landlords and brokers are flouting the law with disguised fees like “management…
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