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NY A05462
Bill
Status
2/14/2025
Primary Sponsor
Alex Bores
Click for details
AI Summary
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Requires landlords to accept at least one form of rent payment that does not charge tenants a fee, excluding wire transfers, cashier's checks, certified checks, bank drafts, and money orders as the only options
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Allows landlords to require cash-only payments for up to six months if a tenant's check bounces for insufficient funds or if the tenant stops payment on a check
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Mandates landlords provide written notice with a copy of the dishonored payment instrument before requiring cash-only payments
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Prohibits landlords from requiring tenants to physically deliver rent payments unless a payment location is provided within 300 feet of the rental property
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Takes effect 90 days after becoming law and is officially titled the "Multi-Payment Yielding Equitable Rent System (MYERS) Act"
Legislative Description
Relates to methods of billing and/or paying rent; provides that a landlord shall accept payment of rent by personal check and by mail; provides exceptions to such payment options when a check has been returned for insufficient funds or payment has been stopped on a check, draft or order.
Last Action
referred to housing
1/7/2026