Quoted in KeyCrew: FARE Act Fallout- NYC’s Underground Rental Market
KeyCrew’s August 27 analysis digs into the post-FARE Act reality: shifting broker fees to the hiring party didn’t just change who pays—it changed how apartments are found. The story tracks the unintended rise of “off-market” rentals, especially among stabilized units that can’t absorb added costs.
“This is creating almost like a black market of off-market, rent-stabilized listings.” — Rachel Fiegler, Pinpointe Group
Why this story matters
Our point is simple: when stabilized buildings can’t bake fees into rent, many owners stop advertising publicly and circulate availability through brokers. That concentrates access behind relationships and makes professional representation more, not less, essential for budget-sensitive renters.
Pinpointe POV
We’re pro-transparency. If “no-fee” turns into hidden scarcity, renters lose visibility and leverage. We advise clients to focus on total cost over two years, not just list price, and to use brokers to surface legit off-market options—while pushing owners for clarity on who’s paying which fees. We’re also seeing affordability pressure spread to outer-borough neighborhoods once considered safe havens, reinforcing the need to plan early and stay flexible on location and timing.
Read the full article on KeyCrew ↗
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