By: Akanksha A. Panicker
The “Housing Stability and Tenant Protection Act” has seen significant changes be enacted into landlord-tenant rights and obligations in New York. Modifications have been made to the substantial bulk of the NY legal matrices. The Act has been controversial and can seem to have a chilling effect on pre-existing real estate and landlord-tenant laws.
[1.0] CHANGE IN STATUTE FOR NOTIFICATION
Provide Rent Receipts and Late Payment Notices.
From July 2019, the onus of requesting a residential tenancy receipt was shifted from the tenants to the landlords themselves. Rather than repeatedly request receipts, it becomes necessary for a landlord to provide receipts for the lease term after an initial receipt. This might be done immediately upon personal delivery or within fifteen days of payment in case of indirect or online payment. Landlords further expected to maintain records of cash receipts for at least three years, available upon tenant’s request, or if rent is paid in any form other than a personal check.