Healey Touts End to Tenant-Paid Broker Fees Today
A last-minute lobbying campaign by a faction in the real estate industry to delay the law failed to gain traction with legislators.
A last-minute lobbying campaign by a faction in the real estate industry to delay the law failed to gain traction with legislators.
The Small Property Owners Association pulled together a mix of landlords, brokers and real estate agents outside the State House to protest the state’s new ban on tenant-paid apartment broker fees.
Landlords will have options to offset the cost, but compliance will be crucial as failure to follow the rules could be costly, experts say.
“If you’ve moved apartments recently, you’ve probably paid four months rent up front – first month, last month, security deposit and a broker’s fee for a broker you didn’t even hire,” the governor said.
Gov. Maura Healey has put political capital behind eliminating apartment broker fees, but state legislators have backed two wildly different ways to make that happen.
Boston mayoral challenger Josh Kraft would create a city registry of rent-controlled apartments to bypass brokers under a voluntary proposal to rein in rent increases.
Gov. Maura Healey is starting to roll out some specifics from her forthcoming fiscal year 2026 budget, announcing Monday that it will include a provision to do away with renter-paid broker’s fees.
Another housing-related showdown between the city of Boston and the state Legislature is poised to unfold next year if city councilors embrace a push to shield renters from paying broker’s fees.
Cambridge politicians are the first out of the gate in trying to follow their New York City peers’ lead in banning apartment broker fees. The catch: They’re not quite sure if they can do it.
If broker fees are pushed onto property owners, there will be several unintended consequences; one of which is that we just won’t allow brokers to lease our units.
Depending on the outcome of three major lawsuits challenging commission structures in the real estate field, the way agents get paid could change – for the better, according to one seasoned observer.
Boston officials plan to investigate how broker’s fees impact the city’s hundreds of thousands of renters, raising the possibility of a New York City-style ban on them and thorny questions about how to make the city’s housing market fairer.
Hot on the heels of a New York City law to ban broker fees in apartment rentals, Boston Mayor Marty Walsh says he intends to do the same thing.