If it ain’t broker, don’t fix it.

A cohort of Big Apple real estate brokers are suing the city over a new law that shifts the burden of costly broker fees away from tenants – and the case could prevent the legislation from taking effect this summer as planned.

The Real Estate Board of New York (REBNY) and other groups representing brokers and landlords filed suit Monday in an attempt to block the controversial bill, dubbed the Fairness in Apartment Rentals Act (FARE), which passed in the City Council with a veto-proof majority of 42-8 on Nov. 13.

“While the FARE Act may have the ‘right intention,’ it will wreak havoc on the New York City rental markets and unleash a host of unintended consequences, causing immediate and irreparable harm to the consumers it purports to protect, as well as harm brokers and landlords around the city,” the suit charges.

The law mandates that the person hiring the broker pay the fee, instead of the prospective tenant.
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