Legislation reforming broker fees in New York City became law Saturday after Mayor Eric Adams declined to sign the bill.The New York City Council passed the Fairness in Apartment Rental Expenses, or FARE,

Tenants searching for an apartment in New York City have long been forced to pay thousands of dollars to real estate brokers. That was true even if that person was hired by the landlord. But a new bill passed Wednesday would shift those costs to landlords,

That’s when a new law shifting the upfront cost of broker fees away from tenants will take effect. The measure, which the City Council approved on Nov. 13 with a veto-proof majority, automatically became law after Mayor Eric Adams declined to sign it within a 30-day window.