Latest news with #brokerfees
Bloomberg
02-07-2025
- Business
- Bloomberg
Massachusetts to Follow NYC in Making Landlords Pay Broker Fees
Massachusetts renters are poised to get some relief from onerous broker fees under a provision tucked into the 2026 spending package that Governor Maura Healey has pledged to sign. Broker fees are typically equal to one month's rent, which can swell upfront costs for a new apartment to as much as $10,000 after also accounting for security deposits and requirements to prepay the first and last month of the lease, according to the governor's office. The Massachusetts law formally shifts responsibility for paying for brokers to the person who hired them — in most cases the landlord.
Bloomberg
12-06-2025
- Business
- Bloomberg
New York's Real Estate Industry Appeals Broker-Fee Case Decision
Real estate groups are challenging a ruling by a federal judge that allowed New York City to begin enforcing a new law requiring landlords, rather than their tenants, to pay fees for hiring listing brokers. US District Judge Ronnie Abrams on Tuesday denied a request by the Real Estate Board of New York, the New York State Association of Realtors and others to pause the law while their lawsuit proceeds. The ruling was another setback for the industry's legal fight against the measure, which went into effect Wednesday.
Bloomberg
10-06-2025
- Business
- Bloomberg
Judge Refuses to Block NYC Broker-Fee Law Set to Start June 11
By and Jennifer Epstein Save A federal judge refused to block a New York City law that would require landlords — rather than their tenants — to pay fees for hiring listing brokers, handing the real estate industry another setback in its legal fight to prevent enforcement before the measure goes into effect June 11. The case is Real Estate Board of New York v City of New York, 24-cv-9678, US District Court, Southern District of New York (Manhattan).
