Is My Current Lease Affected by NYC's FARE Act?

I signed my lease before June 2025 - do I get any money back?

No, you can't get refunds on broker fees you already paid. The FARE Act only applies to new leases signed after June 11, 2025.

That broker fee is gone, but think of it as the last one you'll ever pay in NYC.

What happens when my current lease expires?

Your next apartment hunt will be broker-fee-free. The average NYC renter previously paid $12,951 in upfront costs including broker fees.

You'll potentially save $3,000-$6,000 on your next move, money that can go toward your actual living situation instead.

Some landlords are already waiving broker fees for lease renewals to keep good tenants. It's worth asking when renewal time comes.

Should I try to negotiate with my current landlord?

Absolutely. Your landlord knows finding a new tenant will cost them broker fees now.You have more leverage than before. Use it to negotiate rent increases, needed repairs, or better lease terms.

The worst they can say is no, but many prefer keeping reliable tenants over paying thousands in broker fees for new ones.