If you’re a renter in Massachusetts, you already know the deal when it comes time to get an apartment. You need first month’s rent, last month’s rent, a security deposit — and often, a broker’s fee.
But soon, renters may no longer have to pay this pesky fee, which typically amounts to one month’s rent.
A new policy included in the $61 billion state budget passed by lawmakers Monday requires broker’s fees to be paid by whoever hired the broker — usually the landlord. A prohibition on renter-paid broker’s fees would conceivably end the longtime practice in dense areas like Boston, whose competitive rental housing market has left apartment-seekers no choice but to pay this upfront cost.
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