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Updated over 4 years ago on . Most recent reply

User Stats

28
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0
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Darrick Lowe
  • Brooklyn, Ny
0
Votes |
28
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Who pays broker's fee in NYC? Landlord or Tenant

Darrick Lowe
  • Brooklyn, Ny
Posted

Historically, tenant's always paid broker's fee. 

In Feb 2020, however, this practice was banned, and landlords needed to pay. 

In Mar 2020, this ruling was blocked, and pushed court date to Jun. The court case pushed again to Sept. 

Therefore, if I (the landlord) exclusively list my property with an agent, and a tenant signs a lease, is the tenant responsible for paying my broker? What if my tenant has their own broker, do both brokers split the fee?
 

Thanks!

https://ny.curbed.com/2020/2/1...

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