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revised version of the Fairness in Apartment Rentals Act (FARE) is heading to a vote on November 13, with Council member Chi Ossé declaring victory. The bill aims to eliminate forced broker fees in New York City, but critics argue that the latest version is worse than the original.

    Ossé's measure has garnered support from 33 Council members and needs 26 votes to pass. However, some stakeholders are concerned about the bill's language, which defines a listing agent as someone who enters into a compensation agreement with the landlord. This could put nonexclusive listings in jeopardy, critics say.

    The revised bill clarifies that agents advertising a rental with the landlord's permission cannot seek a fee from tenants. But this has raised concerns among brokers, who argue that many owners do not work exclusively with one broker and instead provide their listings to multiple agents.

    The latest version of the bill also establishes fines for non-compliance, including up to $1,000 for a first violation and up to $2,000 for subsequent offenses. Tenants will be required to receive an itemized list of all fees they are expected to pay, with failure to do so resulting in fines.

    The Real Estate Board of New York (REBNY) has expressed opposition to the bill, arguing that it will make it harder for tenants to rent apartments and put brokers' jobs at risk. REBNY claims that landlords may pass the cost of commissions onto tenants by increasing the rent, or simply not use rental brokers.

    Ossé's office disputes this, saying that landlords will pay fees to brokers they choose to hire, while tenants will pay fees to brokers they choose to hire. The bill aims to establish a fair system where brokers are paid for their services and tenants are not forced to pay unnecessary fees.