Realtors Split as New York City Seeks to Shift Broker Fees to Landlords From Tenants

A new bill will transform the market dynamics in one of the nation’s most sought-after rental markets, but controversy has arisen over what exactly it will do.

Manhattan skyline in New York City on June 13, 2019. Spencer Platt/Getty Images

New York City Councilman Chi Ossé has introduced legislation that might alter the dynamics of rentals in the city by requiring that whichever party hires a broker in a rental transaction must pay the broker.

The bill favors tenants, who have long chafed at having to pay the broker fees, and shifts the burden to landlords in most cases. It has sparked controversy, with politicians expressing support and real estate professionals voicing mixed reactions.