In effect as of June 2025, the FARE Act ensures that NYC renters do not have to pay broker fees unless they hired the broker. The law is a relief for many New Yorkers,  who pay an average of $12,951 in upfront costs — including broker fees — to move into a rental, according to StreetEasy data. StreetEasy and Zillow believe this legislation will result in positive changes for all sides of the market, and will make the renting process in NYC more fair, affordable, and transparent.

If you’re a renter seeking information on the FARE Act, we’re here to explain what it is, how it impacts NYC renters, how it’s reflected on StreetEasy rental listings, how to report violations, and why we believe it’s good for everyone involved.

What is the FARE Act? 

The Fairness in Apartment Rental Expenses (FARE) Act makes broker fees the responsibility of the party who hires the broker — which, in most cases, is the property manager. It requires property managers or their brokers to disclose and advertise any fees a tenant must pay on their rental listings and in rental agreements, or else risk a penalty, including fines and risk of lawsuit. It also gives renters the choice of hiring a broker to represent them, and ensures tenants aren’t forced to pay a broker fee as a condition of signing a lease agreement.

How do the changes impact NYC renters?

As of June 11, 2025 (when the FARE Act went into effect), a broker can no longer require you to pay them a fee if they’ve listed an apartment on behalf of a property manager. You can still hire your own broker to represent you and help you find a rental, in which case you’d pay them a broker fee for the services you hired them to do. But the FARE Act ensures NYC renters only pay a broker fee when they explicitly hire the broker to represent them.

Any fees you, as a renter, are asked to pay must also be clearly disclosed upfront, including in StreetEasy listings.

We believe these changes are good for NYC renters and will improve fairness, affordability, and transparency in the renting process. The FARE Act will significantly lower your upfront costs when signing a lease, and ensure you clearly understand any fees you’ll be asked to pay — with no surprises later on.

Updates to StreetEasy rental listings

We believe renters should have the information they need to make smart housing decisions. As such, and as part of the FARE Act’s requirement for renter fees to be disclosed upfront, housing providers listing on StreetEasy will be asked to disclose all one-time and recurring costs and fees in their rental listings. The “no fee” listing designation and filter are also no longer active on StreetEasy.

To help give renters a clear overview of what they’ll pay, on StreetEasy listings you’ll notice a link to a full costs and fees breakdown, below the monthly base rent:

Click to see the full breakdown, where you’ll find:

• All costs and fees for the rental, grouped into monthly recurring charges, move-in costs, and other fees.
• Clearly labeled fees with required costs like monthly base rent, security deposit, and application fees displayed first, followed by optional costs like pet rent, storage fees, and parking.
• A calculator tool that allows you to select optional fees (pets, storage, parking, etc.) and specify quantities (e.g. how many renters will be applying, number of pets, storage units needed) to estimate your total costs.

We look forward to improving transparency and clarity in the rental process through this helpful feature.

How do I report a violation of the FARE Act?

In the event you’re asked for a broker fee in violation of the FARE Act, please report it to the NYC Department of Consumer and Worker Protection (DCWP), the city agency responsible for enforcing the law. Report to DCWP via this form or by calling 311.

When reporting the suspected violation, it’s important to be as detailed as possible and provide screenshots of the listing and any messages you received, the date the screenshots were taken, the listing URL, contact information for the agent, and any other information that might be useful to regulators. A detailed report will aid in the investigation and enforcement of violations.

If a listing on StreetEasy references a broker fee, please use the Report listing function on the StreetEasy listing page and fill out a brief form explaining the violation. 

By reporting FARE Act violations, you’ll help make the NYC rental market fairer and easier to navigate for everyone. You’ll also help improve the experience of browsing StreetEasy listings, with confidence that the rentals you see are complying with the law.

Why StreetEasy believes these changes are good for everyone

Lowering the financial barrier to securing an apartment leads to a healthier market for renters, brokers, and property managers alike. Many NYC renters would like to move within the city, but have been unable or unwilling to do so due to the high upfront costs required. With the FARE Act in effect, tenants will be able to move more frequently, improving the availability of rentals and creating more transactions for brokers to support. Increasing renter mobility unlocks inventory for all industry participants.

This legislation is a step in the right direction to improve the overall housing market in NYC. By lowering the upfront costs of moving, we can open doors for tens of thousands of renters who are unable to move, while ensuring agents are paid fairly for their valuable work.