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FARE Act’s Hidden Rent Cost | Real Estate News
A new city law, the FARE Act, shifted broker fees from tenants to landlords—meant to save renters cash upfront. But here’s the twist: rents have surged 18% in some areas, hinting that money doesn’t disappear—it just moves. While demand and other factors play a role, landlords are feeling the pinch: in rent-stabilized buildings, they can’t raise rents to cover fees, so they may cut back on upkeep or hike prices on market-rate units. It’s a vivid reminder that changing one financial rule can ripple through the entire system. Listen in comfort:Get a discount on a Soli Pillow…
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