🏙️ Renting in NYC just got cheaper to start

The FARE Act killed the infamous tenant-paid broker fee, and the law caps your move-in cash. Here's what you now need to qualify and move in.

✓ 2026 · FARE Act + NY rent law

🎉 The FARE Act (since June 2025): whoever hires the broker pays them. Since landlords hire brokers to list their units, they pay — not you. You only owe a broker fee if you hire your own agent. All fees must be disclosed upfront.

Monthly rent ($)

Annual income you'll likely need (40x rule)

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First month

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Security (max 1 mo)

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Move-in total

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The legal move-in cap

By law a landlord can ask for at most first month's rent + one month's security + a $20 application fee. Security deposits are capped at one month — anything more isn't allowed.

No 40x income? Use a guarantor

A guarantor typically must earn 80x the monthly rent with a credit score above ~680, or use a guarantor service. Common and accepted.

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