Int 1105-2023

Fees charged in a residential rental real estate transaction.

IntroductionFiledCommittee on Consumer and Worker Protectionintroduced 2023-06-22

Filed — closed without being enacted.

Official record · Legistar

Agenda: 2023-06-22Passed: 2023-12-31

Summary

This bill would require an individual who is a representative or an agent of a property owner or a prospective tenant in a residential rental real estate transaction to collect fees charged in the transaction from the party employing the individual. The provisions of this bill would not impact the collection of fees by a landlord or property owner.

Committee on Consumer and Worker Protection — Department of Consumer and Worker Protection and Office of Nightlife.

How it compares

26% of similar bills passed

13 passed · 37 died

This bill: 192 days in committee

Similar bills: median 362 days · 272 days when passed

Compared against 50 Introduction bills in Committee on Consumer and Worker Protection.

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Sponsors (31)

Lifecycle

IntroducedIntroduced by Council

2023-06-22 · City Council

ActionReferred to Comm by Council

2023-06-22 · City Council

ClosedFiled (End of Session)

2023-12-31 · City Council

Heard at (1)

City Council · 2023-06-22 · 1:30 PM · Council Chambers - City Hall

Attachments (5)

Full text

Be it enacted by the Council as follows: Section 1. Title 26 of the administrative code of the city of New York is amended by adding a new chapter 36 to read as follows: CHAPTER 36 FEES ASSOCIATED WITH RENTAL REAL ESTATE TRANSACTIONS � 26-3601 Definitions. As used in this chapter, the term "rental real estate transaction" means a residential real estate transaction involving the rental of real property. � 26-3602 Fees in rental real estate transactions. a. A person collecting fees in connection with a rental real estate transaction, whether such person is a representative or an agent of the owner of the property or of the tenant or prospective tenant in such transaction, shall collect such fees from the party employing such person in such transaction. b. This section does not apply to the collection of fees by the owner or landlord of a residential rental property. � 2. This local law takes effect 60 days after it becomes law, and only applies to residential real estate transactions involving the rental of real property entered into on or after the effective date of this law. DPM LS #12679 6/15/2023 3:06 PM 1 2