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New York & Tri-State  + Apartments  |  February 7, 2020
Paul Bubny
By: Paul Bubny

REBNY Slams NY State’s Move on Rental Broker Fees

In a surprise move, New York State has eliminated mandatory fees to landlord agents by apartment renters. The ruling from the New York Department of State, which takes effect immediately, puts the onus for paying the fees on landlords.

The Department of State made the ruling in accordance with the Housing Stability and Tenant Protection Act of 2019, signed into law by Gov. Andrew Cuomo last year.

“The updated guidance continues to interpret the laws according to their plain meaning and consistent with the way they were intended to be applied,” the agency said in a statement.

Although published reports quoted tenant advocacy groups as welcoming the move, the Real Estate Board of New York slammed it. “The Department of State must rescind its guidance on rental brokerage commissions,” said REBNY president James Whelan. “We are exploring every avenue, including pursuing prompt legal action.”

For comments, questions or concerns, please contact Paul Bubny

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).
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