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There has been renewed interest to cap or limit broker fees paid by prospective tenants after some high-profile instances of brokers asking for thousands of dollars in fees in exchange for highly coveted apartments have made the news. In one case, a renter paid a broker fee of $19,500 for a rent-stabilized apartment that rents for $1,725 month on the Upper West Side. New York’s Department of State (DOS), the agency responsible for licensing real estate agents, is investigating the broker.
