NY Tenants Rejoice: New Bill Bans Excessive Bounce Check Fees!
New York is on the brink of a tenant-friendly revolution as Bill A 56 has just been delivered to the governor for signing. Sponsored by Epstein, Burdick, and Gallagher, this groundbreaking legislation prohibits residential landlords from charging tenants fees for bounced rent checks that exceed the landlord’s actual costs. If signed into law, tenants will no longer be forced to pay inflated penalties that far surpass the landlord’s financial loss due to dishonored payments.
This bill addresses a long-standing grievance among renters across New York, who have frequently been exploited by landlords levying exorbitant fees when a rent check bounces. By tying fees strictly to the actual financial damage incurred, the legislation promises fairer treatment and could alleviate some of the financial stress on tenants navigating tight budgets in an expensive rental market.
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