How NYC renters are thinking ahead of the 2025 mayoral election

As the 2025 mayoral race heats up, housing has emerged as the defining issue for New Yorkers. Openigloo conducted a citywide survey from October 22–28, 2025, capturing the sentiments of hundreds of renters and homeowners across the five boroughs. The results reveal a city fixated on housing affordability and stability – and a mayoral race that is still up for grabs.

Report snapshot

• 21% of respondents remain undecided, signaling a sizable amount of swing voters.
• Zohran Mamdani leads overall with 50%, followed by Andrew Cuomo (17%), Curtis Sliwa (9.5%), and only 3% selecting “other.”
• Housing affordability dominates voter priorities, cited by 67% of respondents, far outpacing public safety (25%) and climate & sustainability (1.5%).
• 55% support building more affordable housing, while 18% favor offering incentives for small landlords.
• Voter divides by housing status and age are sharp:
  • Among renters, Mamdani leads Cuomo 55% to 15%.
  • Among homeowners, Cuomo leads at 40% to Sliwa’s 26% and Mamdani’s 13%.
  • Among voters of ages 55+, Mamdani maintains a 40% to 25% edge over Cuomo.

Undecided voters: The quiet force

Despite the intensity of the race, 21% of respondents remain undecided. This group spans across income levels and neighborhoods, suggesting widespread uncertainty with the current political choices. In a close race, this group could determine the outcome, particularly if housing policy proposals sharpen in the final weeks.

Housing affordability: The defining issue

Asked to choose the issue that matters most this election, 67% of voters chose housing affordability. This priority spans boroughs, income brackets, and age groups.

When questioned further, respondents strongly supported more affordable housing construction, while a smaller subset (18%) preferred incentives for small landlords. Rent stabilization, freezes, and zoning reforms were secondary preferences, with support from middle-income renters.

Voters across age groups

A key question this election is whether housing priorities break along age and ownership lines. Our data suggests they do – and sharply. Renters, especially those under 45, overwhelmingly support Zohran Mamdani (52%) compared to Cuomo’s (14%).

Voters across housing types

When it comes to homeownership 55% of renters support Mamdani compared to Cuomo’s 15%, whereas homeowners favor Cuomo three to one (40%). These patterns reflect the City’s broader housing reality as renters focused more on affordability.

What voters want the next mayor to understand

Across open-ended responses, one message came through clearly: New Yorkers are struggling to keep pace with the City’s cost of living. Rent pressures are reshaping neighborhoods, pushing out longtime residents, and leaving even middle-income earners feeling squeezed.

“There is a middle class that can’t afford to live here – even if you make $100K, it’s rough.”

“The housing situation causes lifelong New Yorkers to have to leave their city.”

“Rent is out of control and landlords need to be held accountable… I’m born and raised here and don’t belong anymore because rents are too high.”

Voters are asking for leadership that restores balance and policies that protect tenants, support small landlords, and make it possible for working class New Yorkers to remain in the city they help sustain.

Conclusion

Housing affordability has clearly become the issue on voters’ minds this election. With more than one in five still undecided, how candidates address rising rents and the broader cost of living could be what tips the balance. The message from voters is consistent: affordability isn’t abstract, and it’s shaping real choices about where people live, work, and stay. For many New Yorkers, the next mayor’s housing plan won’t just set policy; it will determine whether they can continue calling this city home.

The post NYC 2025 Mayoral Election Report: Inside the minds of NYC renters appeared first on openigloo.

Finding an apartment in NYC is a challenge. Rents continue to hit all-time highs. Vacancy rates are also low, leaving many renters scrambling to secure an apartment. But just because the market is competitive doesn’t mean you shouldn’t try to negotiate.

If you’re planning to renew or sign a new lease, here are six tips for scoring the best deals.

1. It’s a tough market for renters. So tread carefully.

If you are looking to move into a new apartment, you don’t have as much leverage as someone looking to renew. Are there a lot of applications? Is this a very desired apartment in a popular neighborhood? If the answer is yes to these questions, then negotiating is probably not in the cards for you.

If you want to renew your current lease, you have a little more leverage because landlords should prefer to keep good-standing tenants rather than clean, paint, repair, and advertise an empty unit. The FARE Act has also created an incentive for landlords to retain their renters, because they may be on the hook to pay a broker fee if the unit vacates. Read more below to help negotiate that renewal.

2. Be clear about what you want and why you want it.

Before entering a negotiation, look at prices in your desired neighborhood and come prepared to defend the number you are offering to pay. Walk your landlord through your thinking process of how you arrived at that price. Mention nearby apartments, as well as any accompanying amenities, when explaining why you want a reduction.

Check out openigloo’s rent calculator to see what the median prices are in your desired neighborhood. Find some sample email templates here as well to get the conversation started.

3. Think about anything else you might be able to offer.

Proposing a lease longer than 12 months may also make landlords more willing to accept a lower offer. Many landlords would prefer to guarantee rent for longer. If you’re at a point in your life where you can commit to an apartment for two years, definitely use that as a negotiation tool.

4. Once you secure a concession from your landlord, get it on paper.

Every landlord has a different preferred method of communication. Some like phone calls, while others are partial to email and text. Regardless of the platform, you use to negotiate, it’s important to get a written record of any deal you agreed on.

If you do have conversations by phone, make sure you summarize that phone call in a follow-up email after. Get those details confirmed and signed in a document.

5. Rent isn’t the only thing you can negotiate.

While some landlords might be unwilling to negotiate on rent, that doesn’t mean they won’t make concessions. You can ask your landlord to cover a utility you normally pay for each month or if they will replace old appliances with newer versions.

Even if you are happy with the rent you pay and don’t have any issues with your apartment, that doesn’t mean you can’t ask for something. You could ask your landlord for a rent credit in exchange for a referral. In many cases, landlords might be happy to throw a $500 credit your way if you bring them a new lease. Don’t be afraid to ask or get creative!

6. Be ready to walk away.

If you think a landlord’s asking price for an apartment is too high, don’t overpay. Do your research and do your due diligence on prices and availability in the area.

Have an experience to share? Submit an anonymous review about your building on openigloo, and help a future renter find (or avoid) their next apartment!

The post 6 Tips To Negotiate Your Rent appeared first on openigloo.

Many renters dread renewal time – and for good reason. Getting huge rent increases is not uncommon in New York City. We get a lot of messages from renters asking us if they should renew or negotiate. We think renters should always try to negotiate their rent. Our position is that you don’t get what you don’t ask for. Keep in mind, if you have a stabilized or Good Cause apartment, you don’t need to worry about steep increases. The law limits how much the landlord can increase the rent. But for everyone else – landlords can increase the rent to whatever they want.

For market-rate tenants, here are some email templates to help you get the rent negotiations started!

Negotiating a steep rent increase

MANY New Yorkers have reported getting priced out of their apartments. If you receive a steep renewal, but you really would like to stay, try negotiating like this:

Hi XYZ,

Thanks for passing over the renewal. I was surprised by this number as similar # bedrooms in the area are renting for around $$$$. I understand the market has changed since last year, but given my good standing as a tenant, I’d love to meet somewhere in the middle. Could we make $$$$ work?

Thanks for your consideration.

Remember, always give them a specific number during rent negotiation (but not the maximum you’d be willing to spend). Leave a little wiggle room for them to come back with another offer. It also helps to point out that you’ve been a great tenant and back up your number with research. You can check openigloo’s Listings feature to see what similar units are renting for in your neighborhood.

When the landlord raises the rent above 5% without the appropriate notice (and you want to stay)

In New York, landlords must give between 30-90 days notice (depending on how long you’ve lived there) if they want to increase your rent by more than 5% or not renew your lease. If you have a 1-year lease, they need to give at least 60 days’ notice. Many renters have reached out to us asking how they can negotiate their rent if a landlord breaks this rule. Try this:

Hi XYZ,

Thanks for passing over the renewal. However, I was expecting the increase to be less than 5%, since we’ve passed the XX day notice window. I’d love to stay, but I’m hoping we can agree on a renewal of $$$$ instead.

Thanks.

Politely point out that you are aware of the rules and give them an opportunity to fix their mistake. Remember, if the landlord misses the notice window, they can still increase your rent. But the increase would go into effect 30-90 days after they tell you. You should still negotiate the rent and make sure they give you the entire notice window!

You want to kickstart the rent negotiation

Perhaps your lease is expiring in a few months, and you want to get a head start on rent negotiations. You have even more leverage if your lease is expiring in a slow season (Winter). If you’re not in a rush to get an answer, you can always wait for them to reach out first.

Hi XYZ,

I hope all is well. I wanted to send a note as my lease is expiring in # months and I’d love to get some clarity on the renewal. I’ve enjoyed my time in this apartment and would love to stay another # years. Given my good standing as a tenant, could we renew at the same rate? Happy to sign a renewal now, if we come to an agreement.

Thanks for your consideration.

It doesn’t hurt to try and ask for a 0% increase and see what they say. Worst case, they come back with a “No” or a different number. If you have a market-rate apartment and are negotiating early, keep things cordial. You may risk the landlord not renewing all together during the rent negotiation.

Of course, some landlords won’t budge with the rent renewals. Then you have to make a personal decision on whether you can tolerate the increase. Whether your rent negotiations went smoothly or not as planned, be sure to share an anonymous review on openigloo and help the next renter that considers your building and landlord.

Google Reviews

The post 3 Email Templates For When You Want to Negotiate Your Rent appeared first on openigloo.

How Rents, Renewals, and Market Dynamics Shifted Post-FARE Act

This summer marked a turning point for New York City renters. On June 11, the FARE Act went into effect, putting an end to forced broker fees and reshaping the economics of apartment hunting overnight. At Openigloo, we analyzed how this policy change impacted rents, lease renewals, and inventory during Summer 2025 (June 1-Aug 31). 

Our analysis combines survey responses from over 5,200 market-rate NYC renters, alongside tens of thousands of active listings across New York City.

Report Snapshot

• FARE Act has contributed to a 6% increase in summer rents – still a significant savings to the 8-15% fees renters are used to paying.
• Summer renewal rates have taken a hit, dropping to 59% in 2025 from 69% in 2024 – suggesting renters felt empowered to move without the additional overhead of a broker fee.
• Advertised inventory dropped dramatically after the FARE Act passed only to rebound by mid-July, suggesting the activity was a brief market-adjustment not a permanent reality.

Did Rents Rise to Offset Broker Fees?

A big concern before the FARE Act was that landlords would simply bake broker fees into the rent. Our data shows that while some of that cost has shifted into monthly rent on market-rate apartments (~6%), renters are still coming out ahead compared to the 8–15% broker fees they used to pay upfront. It’s also worth noting that this summer’s rent growth could be about more than just the FARE Act. Good Cause Eviction and other market dynamics are in play. And because this analysis only looks at market-rate units, not stabilized ones, the overall impact on citywide rents is likely smaller than what we’re showing here.

Renewal Behavior: A Big Drop

Renewals took a hit this summer. Rates dropped from 69% in 2024 to 59% in 2025. This is a sign that once broker fees disappeared, more renters felt free to shop around rather than stay put. Across price points, renewal rates varied, with the biggest shift in the highest price range. There were minimal drops in
renewal rates for apartments priced below $3,100.

Inventory & Days on Market

When the FARE Act took effect, listing inventory dipped dramatically as the market adjusted. Overnight, advertised open listings dropped by nearly 75%. But by mid July, supply not only bounced back but nearly doubled the pre-FARE Act levels. At the same time, apartments were moving faster: the median time on market dropped from 39 days to 23 days after the FARE Act.

Far from freezing activity, the policy seems to have accelerated it. Renters had more choice, less upfront costs, and confidence to enter the rental market in what is usually a competitive season.

Conclusion

Despite stark warnings from various groups it seems that the FARE Act didn’t break NYC renting but rather reshaped it. While rents did climb, the increases were modest compared to the savings on forced broker fees. Renewal rates dropped as renters gained mobility and leverage, and listings moved faster – all signs of a more dynamic market.

The post NYC Summer 2025 Rent Report: Post-FARE Act Shake Up appeared first on openigloo.

That’s why we built this Rent Stabilization Map. Together, we can bring transparency to rent-stabilization in NYC:

Do you think your apartment is stabilized? Fill out the form below, upload your DHCR rental history, and someone from our team will reach out with our assessment.

Google Reviews

The post NYC’s First Rent Stabilization Map appeared first on openigloo.

The law’s aim is to alleviate the financial burden of moving which is why openigloo testified in favor of the FARE Act at City Hall in June 2024. This is a big shift for the NYC rental market. Here’s everything you need to know about how the FARE Act works and how to hold brokers accountable.

What is the FARE Act?

Traditionally in New York City, the majority of rental listings come with a broker fee – often ranging from one to two months rent. Typically, renters pay this fee to a broker that the landlord hired. The FARE Act ends this practice. It simply states that whoever hires the real-estate broker is responsible for paying the broker fee.

When Does the FARE Act Go Into Effect?

The FARE Act passed with a veto majority in November 2024. It officially goes into effect June 11, 2025.

How has the Real Estate Industry Responded to the FARE Act?

Not everyone is in favor of the FARE Act. The Real Estate Board of New York (REBNY) and other industry groups have voiced concerns. They argue that landlords may simply raise rents to offset the cost of broker fees or bring leasing operations offline to skirt the new law. They even filed a lawsuit to delay the Bill’s implementation. A federal judge refused to block the Bill and issued her ruling on June 10 – just one day before the law was set to take effect. But there are many real-estate stakeholders including brokers who agree with this policy and think it will bring much needed transparency to apartment hunting.

Will The FARE Act Make Rents Go Up?

Probably not. Nearly 50% of the housing stock in NYC is rent-stabilized which means landlords cannot bake in broker fees. They legally cannot increase the rent above a certain cap. But what about the other 50% of apartments? Landlords need to compete with those 1 million stabilized apartments. This means they cannot price those apartments much higher than the rest of the housing stock or their apartments won’t be competitive. Even before the FARE Act passed, if landlords truly felt they could increase rents by 15%, they would have done that. The likely scenario is that landlords will negotiate a reduced fee with their brokers. A bargaining power that renters never had, but landlords do!

What Does The FARE Act Mean for Renters?

It means no more forced broker fees! For tenants, the FARE Act represents a significant reduction in the upfront costs associated with renting an apartment. Tenants will no longer face the additional burden of paying broker fees if the broker was hired by the landlord. It also means no more bidding wars on broker fees. Of course, renters can still choose to hire and pay their own broker if they want extra help navigating their apartment hunt!

What Does the FARE Act Mean for Landlords?

Despite some industry resistance, the FARE Act has many benefits for landlords. With lower upfront costs for renters, landlords may fill vacancies faster. Paying their own broker fee could also give landlords greater insight and control of their leasing process. Lastly, covering broker fees can foster goodwill between landlords and tenants. This will give renters the flexibility to move if they wish. It’s not good for owners if their renters are stuck in a lease because they can’t find alternative housing. Happy and empowered renters are good for business!

What happens if a landlord or broker doesn’t follow the new law?

The Department of Consumer and Worker Protection is responsible for enforcing the FARE Act. Anyone found in violation of the Bill will be subject to civil penalties, which range from $500-$2,000 per violation.

How do I file a complaint against a broker or landlord?

Here is a quick guide:

1. Gather your evidence. Save emails, texts, listings, and any screenshots that show the fee being charged.
2. Get the broker’s name and license number if you can. You can look this up on the New York State licensing website.
3. Submit a complaint through the New York City Consumer and Worker Protection website.

What if a broker pressures me to “hire” them to get the apartment?

Some brokers may try to get around the law by asking renters to sign paperwork saying they hired them. In many cases, the goal is to force a fee. If a broker says you must sign something in order to see or apply for the apartment, that is a red flag. Take screenshots. Save the listing. And report it.

What Does this Bill Mean for Brokers and Agents?

The FARE Act is beneficial for agents and brokers as well. The FARE Act standardizes who pays the broker, which can create more predictable and transparent business outcomes. It will allow for great brokers to differentiate themselves. Brokers can focus on building long-term exclusive partnerships with property owners and renter clients who truly value the work they do and the network they bring to rental transactions.

Is the FARE Act here to stay?

There is still a pending lawsuit to reverse the FARE Act. It could take some time for it to fully litigate. But for now, the FARE Act is in effect and must be followed by everyone until a judge says otherwise.

At openigloo, tens of thousands of NYC renters have reviewed their buildings and landlords. We’ve read too many comments about renters that are stuck in problematic situations because the cost of moving is just prohibitive. Our hope is that the FARE Act will bring much needed relief and transparency to NYC’s housing crisis. Do you have any questions about the FARE Act? Send our team an email at info@openigloo.com.

Google Reviews

The post The FARE Act Is Now In Effect: What Does It Mean for Renters? appeared first on openigloo.

Generally, landlords are looking to confirm 3 things: your income, your credit, and your rent payment history. In NYC, renters need to make 40x the rent and have credit of around 700 to be eligible for an apartment without a guarantor. The 40x rule means your annual gross household income needs to be 40x the rent (for example, if the apartment is $2000, your income needs to be $80,000 per year: 2000 x 40 = 80,000). If you want to prepare for your apartment hunt and get your application ready, this is what you’ll need:

1. 6 months bank statements.

Provide full PDF reports and not screenshots. Your name, address, starting and ending balance needs to be on the statements. Make sure these statements showcase bi-weekly deposits from an employer and rent withdrawals. Highlight these line items to make it easier for the application reviewer to identify. If you have multiple accounts, savings or investment accounts, you can include those as well.

2. Last 3 pay stubs.

These should be official receipts from an employer that showcase your gross and net income. Landlords want to see that you are working right now. Usually, they won’t take into consideration an offer letter for a job you haven’t started yet.

3. Employment Letter.

A short letter from your manager outlining your job title, salary, and how long you’ve been there will really help strengthen your application.

4. Last 2 tax returns.

This is another way for the landlord to confirm your income history. The income you declare should match the 40x rule. If it doesn’t (maybe you’ve since received a raise), explain that in your application.

5. Credit Report from the past 30 days.

Landlords may run your credit for you – this shouldn’t cost you more than $20. But if you have a valid report from the past 30 days, you can submit that. It needs to be the full credit report – not screenshots from Credit Karma or other websites. You can get a copy of your full credit report on Experian.

6. 6-Month Rent Payment History.

Landlords want to see that you pay rent on time. Show receipts, Venmo screenshots, or rent ledgers from your previous landlords, etc.

7. Landlord Reference.

While not mandatory, this will really help strengthen your application. Just a short letter from your past landlord that says you were a tenant in good standing with no issues.

8. Photocopy of your government-issued ID.

If you do not have all of the above, you may need a guarantor. A guarantor needs to make 80x the rent to have a credit score of around 800. Ideally, they should be US residents from the tri-state area. Double-check with the landlord or broker on whether guarantors are accepted. Your guarantor will need to provide tax returns, their credit report, and ID to confirm their eligibility. Get those items organized in advance to submit with your application. If you don’t know anyone that can guarantee a lease for you, there are third-party guarantor services you can pay to guarantee your lease. 

Get your documents organized and in order on openigloo. You can use our applicant profile to send complete and strong applications to landlords and brokers across the 5 boroughs.

Google Reviews

The post NYC Rental Application Checklist: 8 Things You Need!  appeared first on openigloo.

Here’s everything you need to know about the list and how you can find out if you’re renting from one of these landlords!

How is the List Compiled?

The Worst Landlord Watchlist is created by analyzing data from several city agencies, including the Department of Housing Preservation and Development (HPD) and the Department of Buildings (DOB). The list includes landlords with the highest number of open violations across their properties, focusing on severe issues that directly affect tenants’ health and safety.

What is Considered a Severe Violation?

Violations are categorized based on their impact. Severe violations—classified as “Class C” by HPD—include issues like:

• Lack of heat, hot water, or electricity
• Structural hazards like collapsing ceilings or walls
• Pest infestations
• Mold and water leaks

These conditions are considered immediately hazardous to tenants and should be addressed promptly by landlords. You can check to see if your building has any class C violations by typing the address into openigloo. 

How are These Violations Issued?

Violations are typically issued after an inspection by city agencies. The city will send an inspector after a tenant files a complaint with 311. If the inspector finds violations, they record them, giving the landlord a deadline to resolve the issue. Failure to address these violations can lead to legal action or fines.

Why Does the Public Advocate Release This List?

The Watchlist is a tool for accountability and transparency. Its origins trace back to 2010 when then-Public Advocate Bill de Blasio initiated the list to highlight chronic negligence among landlords. By spotlighting these bad actors, the list aims to pressure landlords to improve conditions and empower tenants to advocate for their rights.

Can Landlords Get Off the Worst Landlords List?

Yes. Landlords can be removed from the list by addressing the outstanding violations across their properties. This process often requires a significant commitment to repairs and maintenance, demonstrating a clear effort to improve living conditions for tenants.

How Can I Find Out if My Landlord Made the List?

Finding out if your landlord is on the Worst Landlord Watchlist is straightforward: Use openigloo to search for your building. We’ve tagged every building and landlord profile that is associated with this list.

I Don’t Know My Landlord’s Name – How Can I Check If They’re On The List?

If you’re unsure of your landlord’s name, use openigloo’s search tool to look up your building’s address. You’ll find information about the property owner, including their history of violations, tenant reviews, and building ratings.

Are you apartment hunting right now? Make sure you do research on the landlord you’re considering! Check out our TikTok guide here. 

The post 2024 Worst Landlords List is Out: How to find out if you’re renting from one of NYC’s worst landlords?  appeared first on openigloo.

We asked seasoned NYC renters to share their tips when touring a space and these are 8 things they recommended to check when you’re touring an apartment!

1. Count the outlets.

It’s a small detail that a lot of people miss on the apartment tour checklist. A lot of buildings in NYC are old, and they may not have a lot of outlets or even appropriately placed outlets. Do a double take and make sure the space has enough outlets where you’d logically need them to live comfortably.

2. Plug something in.

Just because there are outlets, doesn’t mean they work. Perhaps you want to bring your phone charger and try and squeeze in a quick charge while you tour – this could be a good way to test the electrical!

3. Turn on the shower.

Low water pressure or even brown/mucky water is a common complaint from renters in NYC. You may as well turn on the shower and sink while you’re there and see for yourself. Test how long it takes for the hot water to kick in too!

4. Test how noise travels.

Some buildings have very poor sound insulation. Thin walls, old windows etc. Take a moment to assess the noise. Does it feel like the traffic is inside your living room? Ask a friend to stand in the hallway and talk – see how clearly you can hear them from inside the apartment. If you’re sensitive to noise, testing how the noise travels is key on the apartment tour checklist!

5. Open the windows.

This is a great way to determine if the windows work, lock, open, close easily etc. You can also get a sense for how loud the block is.

6. Test the buzzer.

Everyone forgets to test the buzzer. Especially if you’re considering a walk-up building, a functioning intercom is so important! You may not think it’s a deal breaker, but having to go up and down to let in friends or deliveries can become a huge pain!

5. Check reviews on openigloo.

DO NOT sign a lease without checking reviews and City data on openigloo. You can read reviews and also ask other renters questions about the building. How responsive is the landlord? Are there any open violations like mold or pests? Cover your bases and do the research before handing over thousands of dollars.

6. Put a marble on the floor.

Buildings in NYC can have sinking or sloping foundations. Put a marble on the floor to see if it’s level. While a small slope may not be a deal breaker, this info can help you plan the furniture arrangements accordingly!

Are you apartment hunting in NYC? Be sure to browse available listings on openigloo and avoid poorly managed properties! 

The post NYC Apartment Tour Checklist: 8 Things You Need to Check When Touring a Space appeared first on openigloo.

UPDATE: The FARE Act Passed on November 13, 2024. Read more here.

On Wednesday, June 12, 2024, openigloo was invited to testify at City Council about the FARE Act (Fairness in Apartment Rental Expenses Act). The proposed bill stipulates that whoever hires the real estate broker should pay for the broker fee. In New York City, the majority of rental listings come with a fee. This common practice in NYC makes moving very expensive for renters. Groups who support and don’t support the bill attended the Council’s committee on consumer and worker protection to hear various stakeholders testify and share their perspectives.

See our full testimony below:

Introduction

“Hello, my name is Allia Mohamed. I am the co-founder and CEO of openigloo. A leasing marketplace that has helped over 1.5m New York City renters research their landlords, review their buildings and find quality apartments.

In the last 4 years, we’ve worked alongside brokers and landlords, who share our belief that transparency is paramount in creating a fair and functioning housing market. At openigloo we feel that the FARE Act supports that belief and today I want to share some of the perspectives we’ve learned from the renters, agents and landlords that are a part of our community.

What the FARE Act Means for Renters

I think many people in this room would agree that whenever a New Yorker complains about their housing situation; maybe it’s a maintenance issue, or maybe they just want a different kind of space; People outside of New York will commonly respond with the same answer: “Well, if you don’t like it, why don’t you just find something else?”

“And this response is frustrating because many of us know the financial and emotional toll that comes with moving here. A 1-to-2 month broker fee on top of other moving costs is a financial impossibility for many New Yorkers. The FARE Act will give renters the freedom to move and the freedom of choice. Further, it will keep renters from being excluded from what is already a tight housing market.

What the FARE Act Means for Landlords & Agents

We’ve also learned this from landlords. It’s BETTER if tenants aren’t forced to pay a fee to a broker who didn’t represent their interests. Many owners agree that the FARE Act has the potential to build trust and make sure the owner-tenant relationship starts off on the right foot. And that’s good for business.”

“From agents in our community on our team; we’ve heard that this will present an opportunity. An opportunity for great agents to rise above the stigma. Allowing them to focus their energy on building long lasting relationships with owners and renters who value their expertise.

Conclusion

I understand that this is a charged debate, but one thing is unequivocal and that’s that something needs to change. The FARE Act is the first proposal we’ve seen that isn’t going after brokers or the fees. But rather trying to make the process of renting transparent and fair for all stakeholders. Thank you.”

If you have any questions or ideas, never hesitate to reach out to our team at info@openigloo.com!

The post What We Said at the New York City Council About The FARE Act appeared first on openigloo.