Bill > S07893

This bill requires landlords (lessors) to provide tenants (lessees) with a written rent ledger upon request, which must include a detailed record of all financial transactions between the landlord and tenant. Specifically, the ledger must document the amount, date, and method of payment for three key categories of financial interactions: rent payments, late fees, and security deposits. The bill amends the New York Real Property Law by adding a new section (235-ee) that mandates this transparency, giving tenants the right to obtain a comprehensive financial history of their rental payments. The legislation will go into effect 90 days after it becomes law, providing landlords with a reasonable timeline to implement the new record-keeping requirement. By requiring such detailed documentation, the bill aims to increase financial transparency and accountability in landlord-tenant relationships, potentially helping tenants better track their rental expenses and payment history.