Bill > S10477

This bill establishes new rules for landlords in New York who offer tenants the option to have their positive rental payment information reported to a consumer reporting agency, which is an entity that collects and sells consumer credit information, to help improve the tenant's credit score. Landlords must get a tenant's written authorization before reporting positive rental payments, and this option must be clearly explained at the time of the lease agreement and annually thereafter, detailing which agency will receive the information, what payments will be reported, and the tenant's right to opt in or out, with specific conditions for opting back in. If a landlord reports negative rental payment information, such as late payments, they must notify the tenant in writing within thirty days, including information about the tenant's rights under federal and state law to access and dispute their credit report. The bill also clarifies that tenants who exercise their rights to withhold rent for necessary repairs will not have these actions reported as late payments, provided they notify their landlord in advance, and this does not relieve landlords of their obligation to maintain habitable living conditions.