Understanding NYC’s New FARE Act
As of June 11, 2025, a major shift has taken place in the NYC rental market: the Fairness in Apartment Rental Expenses (FARE) Act is now officially in effect.
Here’s what you need to know, simplified
If a landlord or property manager hires the broker, that landlord is now responsible for paying the broker fee—tenants can no longer be charged. If a renter hires their own broker, they’ll still pay that broker’s fee, just like before.
It’s a big change, especially in a market like New York where tenants have historically been stuck with hefty upfront costs—often thousands of dollars just to secure a lease.
What the FARE Act Means for NYC
This new law is shaking things up, and while it’s meant to create fairness for renters, the ripple effects are wide-reaching—for agents, landlords, and developers.
What’s Good for Renters:
• Lower upfront costs: According to StreetEasy, average move-in costs have dropped nearly 42%, which makes NYC more accessible.
• More transparency: Renters now know exactly who’s paying who, and why.
What Landlords Are Facing:
• Increased costs: Some landlords are already raising rents to absorb broker fees—5% to 7% on average.
• Changing strategies: I’m seeing landlords rethinking their marketing plans—some are ditching brokers entirely, while others are trying to negotiate lower commissions.
What this means for brokers
This is where things get interesting. As someone who’s built a brokerage focused on value-driven sales and smart marketing, I believe this is an opportunity—not a setback. Yes, brokers may have to justify their fees more than ever. But at Powered By DMT, that’s what we do best. This isn’t just a change in who pays—it’s a shift in how we communicate value.
The Powered by DMT Advantage in a Post-FARE Market
At Powered By DMT, we’re already built for this moment. Our approach is transparent, data-backed, and performance-driven. Our platform gives agents everything they need to:
• Market smarter
• Convert faster
• Build scalable, compliant strategies
Whether you’re an agent, landlord, or developer, this is the time to level up. The old way of working is over. Now it’s about efficiency, clarity, and proof of value—and that’s what we deliver.
The FARE Act may feel like a disruption, but to me, it’s a catalyst. It’s forcing all of us to rethink how we operate, how we price, and how we serve. For renters, it’s a win. For landlords, it’s an adjustment. For brokers? It’s a challenge—and a chance. Whether you’re working in NYC, expanding into Miami, or just trying to navigate what comes next, I’m here to help you stay one step ahead.
Learn more about Powered By DMT here.