There's a new push to reform broker fees in NYC

Could steep fees paid to apartment brokers soon be a thing of the past? There's a new push to reform broker fees. CBS New York investigative reporter Mahsa Saeidi looks into a proposal to cut down those up-front costs.

[@user-ux8hg8bk3e]

Eliminate broker fees all together and you need rent control. These greedy people are charging 3000 a month for a run-down apartment.

[@Kamala_sux]

We need to abolish taxes of greedy government. And eliminate the cost of food, water and electricity. Which are all human rights. ✊️

[@BlackSheepRave]

Broker fee needs to come from the landlord if they’re to lazy to find tenants

[@rudy8076]

Ok broker😂😂😂

[@LikeLikeLikeLikeLi]

You spelled too wrong. Tf

[@veewil8646]

Well that's how I know it's a crap landlord. Passing the cost on to the tenant. Cheap and you don't want to rent from them.

[@mcgritty8842]

100% facts here. Especially for illegal apartments

[@chichoc007]

And you really think that the landlord will not increase the asking price of the rent to absorb the cost of the broker fees? Like it will take from his / her own pocket to pay the broker ?

[@damirmcgrowder]

Broker fees are crazy

[@marc6016]

For poor people sure.

[@Espoboogie]

For everybody.

[@marc6016]

@@Espoboogie not here, I can afford it and don't mind paying for that service. I've never had to pay more than a month though.

[@Republican4ever]

No broker fees, $1million dollars a month.

[@petracore4812]

It also encourages Brokers to act like DISRESPECTFUL DOGS! They are the most VICIOUS people you will encounter and they will HOUND you while acting ENTITLED.

[@coughdrop435]

Its 15% of the yearly rent not 15 times the rent I think she misunderstands that

[@annan5014]

I believe she was referring to that specific broker fee that was 15x the rent, not generally

[@GeraldYniguez]

Don't need it

[@mcgritty8842]

Why are there broker fees on apartments anyway? Especially when they are illegal? I may start looking up all apartments in NY, find out if they’re legal and report all the illegal ones to their local municipalities. Let the homeowners have a field day playing catch up to the fees and permits reauired 😂😂😂😂😂😂😂😂

[@marc6016]

Illegal? What country are you from?

[@Stoneface_]

​@@marc6016US

[@emmany5302]

Chi Ossé's bill will lead to more open listings which will benefit both the consumers and the majority of brokers who do not have exclusive listings. Agents who have exclusive rental listings are supposed to co-broke but they rarely do.

[@abdulbaseetarham823]

broker fees should be illegal

[@dreamer6508]

Real estate taxes should be illegal

[@HarlemsMagic]

So do I get my money back??

[@jayr3053]

No broker fees

[@FoougieTV]

Get the heck out of NYC.

[@Jayswingler530]

1:58 almost 15 times the rent? whats this lady smoking. 15% of annual rent which is fair.

[@sct4040]

What about rental application fee? They are a scam.

[@albertl6963]

Renting is a hole in the heart

[@Mouzhappy]

bring this to MA

[@emmany5302]

The number "15" likely meant 15% of the first year's rent, not 15K.

[@mrbond9882]

"I should be able to find an apartment in my own neighborhood" That neighborhood hasnt been yours for over 15 years hun lol

[@daintyminnie9270]

the market sets the rent and I do not need to rent to a brokie... Poof be gone

[@shirleyharris1335]

Broker Fees? NYS Governor needs to hop on this, and communities should ban together and get this on the Ballot! AOC and Speaker Jeffries! Sounds illegal!

[@gladysgarcia6296]

Well renters have to do the job on their own. No one is going to work for free.

[@jrho8033]

Renter's already do the. When I went though so much work to find a apartment in my range. Phone calls, emailing, and setting up times to see a home. Only to be met with a broker who unlocks the door, but expects $800 for the 'Service". Brokers are nothing but gatekeepers. The Landlord should be expected to pay all fees, if they don't want to unlock the door themselves.

[@marc6016]

That's her problem not the agent or landlord.

[@marc6016]

So cut down lawyer fees, cut giving ridiculous tips to people in the restaurant industry, cut down crazy electric bills, cut taxes. I can go on and on. If you can't afford to move that's not the brokers fault.

[@user-ux8hg8bk3e]

Eliminate broker fees all together and you need rent control. These greedy people are charging 3000 a month for a run-down apartment.

[@marc6016]

@@user-ux8hg8bk3e they're providing a service. I understand not everyone can afford that service but taking money away from brokers isn't necessarily the answer.

[@Tedmosby97]

She’s going to be a lawyer and make bank and she’s crying. Help your mom and pay the fees. You young you got your whole life ahead of you

[@marc6016]

No ones fault shes broke.

[@kalkal7785]

Not everyone files complaints. So yoru number is way off. If everyone that felt that he/she was overcharged when using there service they would have file a complaint.

[@LikeLikeLikeLikeLi]

You spelled their wrong. Tf

[@mcgritty8842]

@@LikeLikeLikeLikeLiyou obviously cannot read if you missed the actual spelling error. Go back to you echo chamber

[@Lobsterman5481]

it's about time.

[@lolblehXD]

It makes no sense for tenants to pay broker fee when the landlord is the one who hired the broker. It's also criminal to even make the broker fee more than the monthly asking rent.

[@arthurbb8937]

Everyone knows that to live in NYC, the nastiest city in the country, you have to get ripped off coming and going. It's the only place I haven't been able to rent an apartment directly with the landlord or management company. It's a billion dollar racket. The broker does almost nothing and gets a few grand from someone who didn't hire them? Glad I ditched that crooked city.

[@apborick5796]

How about reforming bail & sentencing? Make NYC SAFE AGAIN.

[@smartguy724]

It is indeed ridiculous. Paying one month”s rent or 10-12% of the annual rent is absolute nonsense especially when you are the one that goes on Zillow and do all the searching

[@CaraMarie13]

I remember when I first moved out of my mom's house and I bead shocked about the fee. Like the first and last month I get but the broker fee being the same as a months rent. And you'd think these brokers are providing great service for this money. This couldn't be further from the truth.

[@Samelamers]

These brokers barely do anything about it. Its money for nothing.

[@arte7sol]

Yes. How dare they can claim one month rent. Thats just crazy. To find a solid, clean, safe apartment, you have to go through agents. Its a monopoly.

[@RealSergiob466]

I’m very skeptical about the bill

[@yasinali3754]

15k is a down-payment on a house

[@albertl6963]

Criminal

[@nicford548]

This doesn’t happen in Chicago!! Do better NY!! Let the landlord pay it!

[@diegoalzate8855]

About time !

[@Zero11_ss]

They need to ban these fees but also if you cant afford to live there you need to move. Nobody is entitled to live in the most expensive areas of the country just because their grandma happened to move there, totally ridiculous.

[@marc6016]

Let's ban your income too.

[@user-ux8hg8bk3e]

NYC is over priced and third world garbage!

[@nybiggs]

Tenants already have all the rights. Are people not paying attention to the fact that it takes 2 years to get an eviction in NYC? That celebrity chef in the news this week milked the system for 4 1/2 years of unpaid rent. Of course landlords want financially secure tenants. If a person can't come up with the basic fees to get an apartment, what happens when it comes time to pay rent and they have any setback? Also, there are rental insurance companies which cover the security deposit. Instead of depositing a security deposit fee, you pay the insurance company a small fee every month. You're still responsible for any damages but if you can't afford a security deposit it's an option.

[@mcgritty8842]

Broker fees are bs, at least for younger people looking for their first apartment. And most landlords (by me) do illegal procedures anyway. Landlords are not allowed to deposit security deposit into their personal accounts… they’re supposed to open a new one for a shared earned interest. That $1,800 apartment comes out to $5,400 with security deposit (needed) and broker fee. Just eliminate the brokers with apartments and that’s it

[@sunsetparkbayridge11232]

There are plenty houses in Zillow listed by the landlord self. As a landlord, I don't like to use brokers too. My most concern is to find a reliable tenant who can pay their rent on time since laws are so protected to tenants now.

[@user-ux8hg8bk3e]

​@@sunsetparkbayridge11232Maybe if you lowered the rents you will not have that problem!

[@arthurbb8937]

The normal fees that are not crooked like the rest of the country has is not an issue. A month rent and security deposit. If you can't afford that you're trying to live in the wrong city. But another month rent to give to a broker hired by the landlord? It's crooked.

[@sunsetparkbayridge11232]

You don't know how much people who can pay but are not willing to pay as they know the law won't evict them before they can live for free for years. Also, so many people have some form of psy issues which have high demand from landlords to do something even very very minor things unwise they just threaten to not pay the rent. For me, these laws are indeed protecting bad people and priced out small landlords and some type of tenants out of the market(such as not good credit, with kids, not good enough income). For me, I would rather leave my apartment empty if I don't have good tenants. That's why the rent is keeping up despite so many new condo building are building and populations of new york are decreasing. Because more and more landlords are realizing that it's not worthy dealing with potential bad tenants. I am sure that New York rent will keep up as more and more laws are implementing to protect rights of tenants.