A 7682: Provides for the licensing of apartment information vendors; defines such vendors as persons who, for a fee, furnish information concerning the location and availability of rental real property.

  
  STATE OF NEW YORK ________________________________________________________________________ 7682 2025-2026 Regular Sessions  IN ASSEMBLY April 4, 2025 ___________ Introduced by M. of A. COOK, TAYLOR, REYES -- Multi-Sponsored by -- M. of A. DAVILA -- read once and referred to the Committee on Judiciary AN ACT to amend the real property law, in relation to apartment informa- tion vendors; and to repeal article 12-C of such law relating thereto The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Article 12-C of the real property law is REPEALED. 2 § 2. Subdivision 1 of section 440 of the real property law, as amended 3 by chapter 324 of the laws of 1998, is amended to read as follows: 4 1. Whenever used in this article "real estate broker" means any 5 person, firm, limited liability company or corporation, who, for another 6 and for a fee, commission or other valuable consideration, lists for 7 sale, sells, at auction or otherwise, exchanges, buys or rents, or 8 offers or attempts to negotiate a sale, at auction or otherwise, 9 exchange, purchase or rental of an estate or interest in real estate, or 10 collects or offers or attempts to collect rent for the use of real 11 estate, or negotiates or offers or attempts to negotiate, a loan secured 12 or to be secured by a mortgage, other than a residential mortgage loan, 13 as defined in section five hundred ninety of the banking law, or other 14 incumbrance upon or transfer of real estate, or is engaged in the busi- 15 ness of a tenant relocator or apartment information vendor, or who, 16 notwithstanding any other provision of law, performs any of the above 17 stated functions with respect to the resale of condominium property 18 originally sold pursuant to the provisions of the general business law 19 governing real estate syndication offerings. In the sale of lots pursu- 20 ant to the provisions of article nine-A of this chapter, the term "real 21 estate broker" shall also include any person, partnership, association 22 or corporation employed by or on behalf of the owner or owners of lots 23 or other parcels of real estate, at a stated salary, or upon a commis- 24 sion, or upon a salary and commission, or otherwise, to sell such real 25 estate, or any parts thereof, in lots or other parcels, and who shall EXPLANATION--Matter in italics (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD09344-01-5 
 A. 7682 2 1 sell or exchange, or offer or attempt or agree to negotiate the sale or 2 exchange, of any such lot or parcel of real estate. For purposes of this 3 subdivision the term, "interest in real estate" shall include the sale 4 of a business wherein the value of the real estate transferred as part 5 of the business is not merely incidental to the transaction, and shall 6 not include the assignment of a lease, and further, the transaction 7 itself is not otherwise subject to regulation under state or federal 8 laws governing the sale of securities. In connection with the sale of a 9 business the term "real estate broker" shall not include a person, firm 10 or corporation registered pursuant to the provisions of article twenty- 11 three-A of the general business law or federal securities laws. 12 § 3. Section 440 of the real property law is amended by adding a new 13 subdivision 7 to read as follows: 14 7. "Apartment information vendor" means any person who engages in the 15 business of claiming, demanding, charging, receiving, collecting, or 16 contracting for the collection of, a fee from a customer for furnishing 17 information concerning the location and availability of real property, 18 including apartment housing, which may be leased, rented, shared or 19 sublet as a private dwelling, abode, or place of residence. The defi- 20 nition of apartment information vendor shall include an apartment shar- 21 ing agent which means any person who, for a fee, arranges, conducts, 22 coordinates, handles or causes meetings between a customer and the 23 current owner or occupant of legally occupied real property, including 24 apartment housing, who wishes to share that housing with one or more 25 individuals as a private dwelling, abode or place of residence, but it 26 shall not apply to any person who for another and for a fee, commission 27 or other valuable consideration, supervises, organizes, arranges, coor- 28 dinates, handles or is otherwise in charge of or responsible for the 29 relocation of commercial or residential tenants from buildings or struc- 30 tures that are to be demolished, rehabilitated, remodeled or otherwise 31 structurally altered. 32 § 4. The provisions of this act requiring the licensure of apartment 33 information vendors as real estate brokers shall not affect persons 34 holding an apartment information vendor license, during the unexpired 35 period of time such persons are currently licensed under article 12-C of 36 the real property law, prior to the date this act shall have become a 37 law, but all requirements of practice as set forth in article 12-A of 38 the real property law shall govern the practice and conduct of such 39 apartment information vendor licensees. 40 § 5. This act shall take effect on the one hundred eightieth day after 41 it shall have become a law. Effective immediately, the secretary of 42 state and the state real estate board may adopt such rules and regu- 43 lations as may be necessary for the implementation of this act.