Assembly Bill A9823

2023-2024 Legislative Session

Prohibits single-agent dual agency, requires representation agreements, and prohibits mandatory broker's fees in residential real property transactions

download bill text pdf

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Current Bill Status - In Assembly Committee


  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Delivered to Governor
  • Signed By Governor

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2023-A9823 (ACTIVE) - Details

Current Committee:
Assembly Judiciary
Law Section:
Real Property Law
Laws Affected:
Amd §§238-a & 443, add §443-b, RP L

2023-A9823 (ACTIVE) - Summary

Prohibits single-agent dual agency; requires representation agreements; allows broker's fee negotiations; prohibits mandatory broker's fees in residential real property transactions.

2023-A9823 (ACTIVE) - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   9823
 
                           I N  A S S E M B L Y
 
                               April 9, 2024
                                ___________
 
 Introduced  by M. of A. JACKSON -- read once and referred to the Commit-
   tee on Judiciary
 
 AN ACT to amend the  real  property  law,  in  relation  to  prohibiting
   single-agent  dual agency, requiring representation agreements, allow-
   ing buyers and tenants to negotiate broker fees, and prohibiting land-
   lords, lessors, sub-lessors, and grantors from requiring a  tenant  to
   pay brokers' fees as a condition of entering into a lease agreement
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Paragraph (a) of subdivision 1 of section 238-a of the real
 property law, as amended by chapter 789 of the laws of 2021, is  amended
 to read as follows:
   (a)  Except  in  instances where statutes or regulations provide for a
 payment, fee or charge, no landlord, lessor, sub-lessor or  grantor  may
 demand any payment, fee, or charge for the processing, review or accept-
 ance  of  an  application,  or  demand  any other payment, fee or charge
 before or at the beginning of the tenancy, INCLUDING BUT NOT LIMITED  TO
 BROKER'S FEES, except background checks and credit checks as provided by
 paragraph  (b) of this subdivision, provided that this subdivision shall
 not apply to entrance fees charged by continuing care retirement  commu-
 nities  licensed  pursuant  to  article  forty-six or forty-six-A of the
 public health law, assisted living providers licensed pursuant to  arti-
 cle forty-six-B of the public health law, adult care facilities licensed
 pursuant to article seven of the social services law, senior residential
 communities  that have submitted an offering plan to the attorney gener-
 al, or not-for-profit  independent  retirement  communities  that  offer
 personal  emergency  response, housekeeping, transportation and meals to
 their residents. Nothing in this paragraph shall prohibit a  cooperative
 housing  corporation,  other  than  a  cooperative  housing  corporation
 subject to the provisions of article two, article four, article five  or
 article eleven of the private housing finance law, from demanding from a
 prospective  tenant  any  payment,  fee  or charge which is necessary to
 compensate a managing agent and/or transfer agent  for  the  processing,
 review or acceptance of such prospective tenant's application where such
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

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