Posted on: February 13, 2019 10:40 AM

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NYC Councilmembers introduced new bills for renters

NYC Councilmembers Keith Powers and Carlin Rivera introduced a set of bills for renters in NYC.

The first one is real estate agents and brokers commission restricted to one month rent fee.

Second is renters can pay deposit in installments up to 6 months which is also restricted to one month fee.

The broker will be required to disclose what the one month rental fee is used for beside just listing the commission alone.

Also the security deposit must be returned within 60 days before the lease expires and not after the tenant moves out.

The next step is full vote in the City Council before submitting to the mayor to sign to become law.