New York Renters May Benefit From Huge Potential Change In Rental Laws [Yahoo! Finance]
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Source: Yahoo! Finance
The broker fees, which range from 10-15% of the first year's rent, have traditionally been paid by tenants. This is different from how brokers' commissions are paid in most cities throughout the country, where the property owner pays the broker's fee. The current arrangement in New York has been a point of contention for tenants due to the cost. According to Zillow, the average apartment rent in New York City is $3,600. That amounts to $43,200 in rent annually, meaning a broker fee of 10% costs tenants over $4,320, in addition to the first month's rent and security deposit. Don't Miss: If there was a new fund backed by Jeff Bezos offering a 7-9% target yield with monthly dividends would you invest in it Warren Buffett once said, "If you don't find a way to make money while you sleep, you will work until you die." This high-yield real estate fund, offering an 8% yield , makes earning passive income easier than ever. Paying the broker's commission, the first month's rent and t
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