New York A05462 amends rent payment methods, requiring landlords to accept personal checks and mail payments, with exceptions for bounced checks or.

New York A05462, also known as the "multi-payment yielding equitable rent system (MYERS) act," amends the real property law to change how landlords can accept rent payments. Landlords must accept personal checks and mail payments. Exceptions apply if a check has bounced or payment has been stopped on a check, draft, or order. In such cases, landlords can require cash payments for up to six months, with written notice to the tenant. The law also mandates that landlords provide a payment location at least 300 feet from the leased premises if they require in-person payment.

New York A05462 amends rent payment methods, requiring landlords to accept personal checks and mail payments, with exceptions for bounced checks or.

New York A05462, also known as the "multi-payment yielding equitable rent system (MYERS) act," amends the real property law to change how landlords can accept rent payments. Landlords must accept personal checks and mail payments. Exceptions apply if a check has bounced or payment has been stopped on a check, draft, or order. In such cases, landlords can require cash payments for up to six months, with written notice to the tenant. The law also mandates that landlords provide a payment location at least 300 feet from the leased premises if they require in-person payment.