A recent New York state ruling that prohibits brokers from imposing fees on apartment rentals is causing chaos and sudden panic to firms that built a business out of charging tenants up to 15% of a year’s rent
The Real Estate Board of New York and the New York State Association of Realtors, two large industry groups for brokers in the state, said Friday that they would sue the New
York Department of State for “usurp[ing] its role by engaging in improper rulemaking…resulting in losses for brokers and landlords alike,” the groups said in a joint statement.
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