Civic Pulse, Rabbi Yaacov Behrman Interviews Councilmember Chi Osei On The FARE Act

In this episode, Councilmember Chi Osei of the 36th District (Bed-Stuy & North Crown Heights) discusses the newly passed FARE Act, a law he sponsored that aims to regulate broker fees in NYC. Set to take effect in June, the bill mandates that whoever hires the broker—landlord or tenant—pays the broker’s fee, aligning New York City’s system with major U.S. cities like Chicago and Los Angeles.  The law prohibits landlords from passing the fees of brokers they hire onto prospective tenants.

Osei shares his personal experience of struggling with excessive broker fees while apartment hunting, his strategy to pass the law, and the opposition it faced from powerful real estate groups. Rabbi Behrman challenges the councilmember on some of these policies, offering a thought-provoking discussion on the purpose and impact of writing laws, particularly in the context of housing reform. Tune in for valuable insights into policymaking and the importance of civic engagement.

One Comment

  • The truth in these laws

    All this will do will have the landlord raise the monthly rent to cover the full broker fee that he will have to pay the broker.
    The difference is, that you will pay much more over the term of the lease.
    Once again, the city will be destroying the economy by having the prices raised.

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