Tenants in Big Cities Could Save Thousands if “Broker Fee” Reform Passes
New “broker fee” reform could help tenants save thousands of dollars when finding their next apartment or home to rent, but it could come at a significant cost to landlords. In big cities like Boston and New York, it’s not unusual for landlords to hire a broker to help bring in more potential tenants. The problem is that, unlike the rest of the United States, landlords in these cities DON’T have to pay the broker—the tenant does.
But this isn’t some small fee. These broker fees range from eight to fifteen percent of the annual rent, and in pricey Boston or New York City, that could mean…
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