The FARE Act is Not Just Good Policy. It’s Common Sense

“There is still much more work to be done to address our housing crisis. But the FARE Act is one significant step. It’s also a great example of what we can accomplish when tenants come together and advocate for policies that will make our lives easier.”

FARE Act

Gerardo Romo / NYC Council Media Unit

A rally at City Hall in support of the FARE Act in November 2024.

Many across the country and around the world dream to live in New York. It’s what drew me here, long ago: the bright lights, the chance to meet people from around the world, and the chance to live out the line, “if you can make it here, you can make it anywhere.”

Once that dream becomes a reality, however, so many confront an obstacle that only tenants in two cities in America face: the need to pay thousands of dollars in broker fees to rent an apartment. Until now, only New York City and Boston forced applicants into such a dilemma.

Apartment hunting is already stressful. With skyrocketing rents and a 1.4 percent vacancy rate, finding a home in your price range seems doubtful. But then you finally find an apartment you can afford. When you sign a lease, you are typically required to submit your first and last months’ rent, plus a security deposit. You think the weight is finally off your shoulders until you are surprised with one last requirement: that broker’s fee. Tenants pay fees for a broker that they didn’t even hire.