“The rules are murky, and no laws explicitly cap broker’s fees or define the difference between reasonable costs and extortion”
A Keller Williams broker asked $15,000 up front for a $1,100-a-month rent-stabilized one-bedroom in Flushing. That is more than a year’s rent for the right to sign a lease. The landlord hires the broker and the tenant pays. Keller Williams says it will refund anything over 15% of annual rent, which still leaves the fee. Rent stabilization caps the rent, so the money moves to the door.