
New Mass. Law Would Eliminate Renters Pay Rule
Governor Maura Healey of Massachusetts wants to make it as affordable as she can for people to rent in the commonwealth. The median rent in this state is $3,150 which is about a $1,000 more than the nation's average according to Zillow.
The new law, if passed, would do away with renter paid broker's fees starting in fiscal year 2026. The broker fee would still be owed to the real estate agent or agency but it would not be on the shoulders of the renter but of the landlord instead.
Healey called the fees “an unfair cost for renters” who rarely hire the broker themselves and said her budget will include language to require that the fees be paid by whoever contracts with the broker, typically the landlord. -whdh.com
The broker's fee in a residential rental transaction is usually equivalent to one month's rent, sometimes more, sometimes less. The landlord can typically make the renter pay this fee, but no longer if the new law passes.
“By working together, we can save residents thousands of dollars when they move, make it easier to live in the community you love, and ensure businesses have access to the talent they need to thrive. I look forward to reviewing the Governor’s proposal,” the president said. “Let’s make this the session in which we eliminate unfair renter-paid broker fees.”
Rent is high enough in the state of Massachusetts and the up front costs of renting an apartment especially in the eastern part of the state can be overwhelming to some families.
Each real estate transaction whether residential or commercial is unique, at least this will be a win for renters.
Counties with the highest unemployment in Massachusetts
Gallery Credit: Stacker
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