By Sabina Mollot
After hearing from tenants who’ve paid up to six months worth of rent in various fees just to get a lease, Council Members Keith Powers and Carlina Rivera have introduced a package of five bills aimed at giving renters a break.
So far, Powers said 26 members of the Council out of 51 have signed on as co-sponsors.
One bill, sponsored by Powers, would limit broker fees to one month’s rent, which seems to be the typical amount charged. However, in some cases renters are charged up to 15 percent of the annual rent. This bill has already seen some pushback by the Real Estate Board of New York.
REBNY has argued that limiting the amount that can be charged isn’t fair to brokers, because they work solely on commission. In response, Powers said that he intends to listen to any concerns, and isn’t completely opposed to the idea of there being some negotiation between broker and renter, but also says the current business model isn’t fair to renters.