For five years, REBNY fought against harmful legislation that threatens brokers’ livelihoods.

Despite our efforts and the hard work of hundreds of agents and brokers across the city, the City Council passed the FARE Act.

You made your voices heard, and although this is a disappointing outcome, it’s critical to keep educating councilmembers on the negative impacts of their decision.

Here’s what’s at stake:

• Loss of Choice and Availability: When the FARE Act takes effect, brokers can no longer advertise rental listings independently, limiting tenant access to available apartments.
  
  
• Reduced Transparency: The Act disrupts the rental market, creating confusion and reducing access to clear information, reminiscent of the disorganized rental environment of decades past.
  
  
• Increased Costs for Renters: The FARE Act creates a system where landlords will likely pass on the added cost of hiring staff directly to tenants, driving up rents and impacting affordability.

It’s vital that councilmembers understand the far-reaching consequences of the FARE Act on both renters and real estate professionals.

Please continue to reach out to your councilmember today to express why this legislation is a mistake and encourage solutions that genuinely strengthen New York’s rental market and economy.