Housing Transparency Law In New York City. Should It Apply Statewide?
The FARE (Fairness in Apartment Rental Expenses) Act— is New York City’s landmark policy addressing housing affordability and transparency that took effect on June 11, 2025. This new law covers all five boroughs of New York City: Manhattan, Brooklyn, Queens, the Bronx, and Staten Island. It does not cover rentals elsewhere in New York State.
What Is the FARE Act?
The FARE Act standardizes how rental costs are calculated and ensures tenants are provided clear, upfront breakdowns of all rental expenses. Previously, renters often encountered unexpected or inconsistent charges, making it difficult to budget or understand exactly what they will be paying for. FARE eliminates such ambiguity by requiring landlords and agents to itemize every charge and to avoid hidden or compounding fees…