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Updated over 5 years ago on . Most recent reply

User Stats

9
Posts
1
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Kimberly Caceres
  • Real Estate Agent
  • New York City, NY
1
Votes |
9
Posts

NYS DOS New Guidelines for Rental Fees - Clarification Please

Kimberly Caceres
  • Real Estate Agent
  • New York City, NY
Posted

Good Morning All! I wanted to pick anyone's brain that is familiar with this new law Cuomo signed into the Statewide Housing Security & Tenant Protection Act of 2019 and the Housing Stability & Tenant Protection Act of 2019 (the Acts). I'm a bit confused as to how they expect agents to be compensated since they have removed the ability for agents to charge a broker's fee through the landlord via the tenant. I've called a legal hotline and I'm waiting to hear back but if anyone can provide some sort of clarity because it seems as if they are cutting agents out of the transaction as a whole since majority of landlords do NOT offer compensation. 

Thank you in advance for taking the time to read and respond if you do!

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