New York Corridor Rates Act, which protects the tenants from costs, challenged by real estate agents in the eleventh hour

These agents are trying to make a last -minute agreement.

The real estate industry of New York city offers eleven hours to stop a new law that transfers the charge of costs of runner rates far from the tenants before it comes into force next month.

The New York Real Estate Board, the powerful group of more than 10,000 real estate professionals in the city, filed a motion earlier this month to try to pause the equity on the rental costs of apartments until the judicial struggle is made.

Here is everything you need about the new rules, which will be launched on June 11, unless a federal judge accepts Rebny’s motion.

What is the rental costs law (fee) of equity?

The Rates Law, approved at the City Council with a majority of a 42-8-test veto on November 13, prohibits agents who represent owners to collect possible tenants a “runner rate”. It also requires that all the fares that a tenant be included in the rental agreements and the real estate listings.

Proponents of the legislation say that it will help relieve the city’s housing crisis by reducing anticipated prohibition costs for tenants, including runner rates, which are usually approximately 15% of the annual cost of a rental unit, according to the Real Evenigloo real estate website.

But critics of the law argue that the owners will still be able to strain in the rates of runner to the tenants through higher monthly income.

Andrew Lieb, a lawyer for the real estate law firm Boutique Lieb in Law, declares that the Big Apple rental market will be “changed forever” by the rate law.

“The tenants will lose access to the home owners who simply decide that it is no longer worthwhile,” Lieb told The Post. “New York City makes it impossible for a residential owner to work, given the large number of red tapes to be sailed only to sign a lease, and then enforce this lease is another disaster.”

When do runner rates disappear?

Unless a federal judge governs the opposite, the owners will not be prevented from passing the rate to a tenant after June 11, even if a lease was signed before the date of effectiveness, a representative of the Consumer Protection Department was confirmed.

New York City is one of the few cities where the owners can hire a runner and pass the agent’s share to a tenant.

The owner of New York Altagracia B. Pierre Outerbridge hopes that the term will come into force and that a federal judge “probably does not block the law” as the court has not yet issued a decision.

“The fact that it has passed a month (and the law enters into force in two weeks) without the court doing nothing suggests that it does not feel great in a hurry to involve it,” Pierre Outerbridge said in The Post.

Does this mean that all runner rates are illegal?

Owners and tenants can still hire their own runners under the tariff law.

But the owners cannot change the cost of a runner who “exclusively represents the owner’s interests” to a tenant. Includes rates for runners who publish listings with the owner’s permission.

“The Rates Law guarantees that transparency so that tenants do not be unjustly charged with additional costs by putting responsibility for the rates of an agent in the party that really hired them,” the City Council said in a statement.

What do real estate agents say?

In the lawsuit filed in December, Rebny’s lawyers claimed that the “deeply wrong” legislation of the city violated federal and state laws, including constitutional expression and contracting rights.

“The Rate Act is constitutionally defective in several accounts. We are sure that the courts will agree with us,” said Rebny’s representative in The Post.

The New York State Reaction Agents Association argues that the law would promote rental costs, would eliminate “more than half” from online rental listings and open the “floodplains for baseless demands and penalties against runners”.

“The owners who still want to use an agent and are allowed to increase their rent to adapt to the change of responsibility,” said Pierre Outerbridge, adding that some tenants “will be impacted to pay a rent more than a month to sign their lease.”

“The rental exacerbation will be accentuated,” said Violetta WedDepohl, Serhant’s agent. “As a result, when leases occur in renewal in one or two years, tenants will face an even stronger rental increase.

“I have a sympathy for the argument that the runner should be paid by the person who hires them,” he said, “but the reality is that the owners can escape a higher rent.”

But the website of the Real Estate List Street estimated that the average cost to sign a rental lease contract that would have currently been paid a runner’s share will fall by 41.8% once the law has come in.

“The rental properties that stopped collecting tenants in the past in the past did not increase their income beyond the wider market trends,” says a December report on the site. “The effect of blocking the high advance costs made it easier for owners to increase rents faster.”

What do New York city residents say?

The neoyorcan people who spoke with the post were largely in favor of the law in force, with almost all premises that cite housing accessibility as an important concern.

“This is fantastic,” she told The Post Betsy Laikin, a film producer. “Rentals are superior to what they have ever been. Why do we have to pay a runner fee, above these rents?”

“I think the runner’s share … it should not exist,” added Luke Atkinson, a 39 -year -old painter from Bushwick, Brooklyn. )[Brokerage] It is a job that does not need to exist and that they know in their souls.

“That’s why they are insecure,” he added. “That is why they are always annoying because it is a job that does not have to exist.”

Georgi Georgiev, a Bulgaria bartender now residing in Fort Greene, is less optimistic.

“One way or another, we will pay if we receive an apartment, no matter what. We will never pay,” said Georgiev, 45. “There will be so many lagoons.”

What if an apartment has a runner’s share after the law is in force?

The City Consumer Protection Department will apply the law once it comes into force.

It is estimated that the agency will require about $ 500,000 in the next fiscal year for the outreach and education related to the law, according to the City Council’s records.

Trapped in violation of the law will be subject to a $ 1,000 fine for the first rape and a fined of $ 2,000 for each rape in a period of two years.

To file a complaint on a violation of the Rates Law, consumers can visit NYC.GOV/consumers or call 311 once the law is in force.