New York state senator proposes delaying rent payments 3 months

NY Capitol News
old building for rent

An aging property with a “For Rent” sign. (Rick Roberson / Pixabay)

ALBANY, N.Y. (NEWS10/WROC) — State Sen. Michael Gianaris, the Democratic Deputy Senate Majority Leader who represents part of Queens, introduced a bill postponing rent payments for 90 days.

Senate Bill S8125 would suspend rent for certain tenants as a response to COVID-19.

The bill is currently in the Senate Judiciary Committee, about twenty additional state senators have co-sponsored the bill, and there is also a version in the Assembly.

“Suspends all rent payments for certain residential tenants and small business commercial tenants if such tenant has lost employment or was forced to close their place of business and certain mortgage payments for landlords of such tenants in the state for ninety days following the effective date of this act in response to the outbreak of coronavirus disease 2019 (COVID-19).”

Senate Bill S8125

Last week, Gov. Andrew M. Cuomo listed measures enacted for financial relief amid the pandemic, including:

  • 90-day mortgage relief
  • Waive mortgage payments based on financial hardship
  • No negative reporting to credit bureaus
  • Grace period for loan modifications
  • No late payment fees or online payment fees
  • Postponing or suspending foreclosures
  • Waive fees for overdrafts, ATMs, and credit cards

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