Mayor Eric Adams on Tuesday raised concerns about City Council legislation that would relieve most renters from having to pay real estate broker fees, a day before the bill is expected to pass the chamber.
During his weekly off-topic news conference on Nov. 12, Adams said that while he agrees with the premise of the legislation — known as the FARE (Fairness in Apartment Rentals) Act — he believes it will have unintended consequences. The FARE Act, if enacted, would require whomever hires a real estate broker to pay the fee, a cost usually passed onto the tenant.
