Bill > A05462

This bill, known as the Multi-Payment Yielding Equitable Rent System (MYERS) Act, amends the New York Real Property Law to establish new requirements for how landlords must accept rent payments. Specifically, landlords are now required to accept at least one form of payment that is not a wire transfer, cashier's check, certified check, bank draft, money order, or any payment method that requires the tenant to pay a fee. The bill provides exceptions to these payment options: if a tenant has previously bounced a check or stopped payment on a rent check, the landlord may demand cash payments for up to six months, but must provide written notice explaining the reason and attach a copy of the dishonored payment instrument. Additionally, landlords cannot require tenants to pay rent in person unless they provide a payment location at least 300 feet away from the leased premises. The goal of this legislation appears to be protecting tenants from overly restrictive or costly payment methods and providing more flexibility in how they can fulfill their rent obligations. The bill will take effect 90 days after becoming law.

Housing and Urban Affairs

https://www.nysenate.gov/legislation/bills/2025/A5462