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The fees are steep, typically totaling as much as 15% of the annual rent, about $7,000 for the average-priced New York City apartment. NYC bans unusual practice of forcing tenants to pay real ...
The fees are steep, typically totaling as much as 15% of the annual rent, about $7,000 for the average-priced New York City apartment. The legislation passed by the City Council aims to stop landlords from saddling tenants with those payments — at least as an up-front fee.
(The Center Square) — New York City landlords will be required to pay costly broker fees for tenants under a plan approved by the City Council that real estate groups argue will drive up rents ...
The hefty one-time payments, known as broker fees, are ubiquitous in New York but nearly unheard of anywhere else. In most other cities, landlords cover the commission of agents working on their ...
In Australia, mortgage brokers must be licensed by the Australian Securities and Investments Commission (ASIC). To obtain a licence, brokers are required to complete and lodge application form CL01 with ASIC. Additionally, they must fulfil the fitness and propriety requirements under the National Consumer Credit Protection Act 2009. [1] [7]
In a real estate context, an option fee is money paid by a buyer to a seller for the option to terminate a real estate contract. Option fee funds should not be confused with earnest money . The use of option fees is most common in the residential resale market in Texas.
The New York State Legislature in July 1986 acted on a proposal from the Council of New York Cooperatives and Condominiums and defined in what way co-ops could legally impose these fees. Specifically, the law allows such an assessment if either of the following applies: if it is sanctioned in the co-op's proprietary lease; if the lease is ...
Currently, a home seller is essentially locked into paying a brokerage fee for listing their property on a multiple listing service, or MLS — usually 5% or 6% depending on their geographic area.