New York State rent law impacts summer rental payments in the Hamptons

A new law that bars landlords from asking tenants to pay an advance or put down a deposit that is more than one month’s rent has impacted the summer rental market in the Hamptons, 27east reported. While summer renters generally pay for their stay ahead of time and put down a “sizable security deposit,” they’re now technically unable to do so as part of the Housing Stability and Tenant Protection Act of 2019 enacted by the State Legislature in June. The law, however, “wasn’t intended to apply” to summer rentals, State Assemblyman Fred W. Thiele Jr. told the outlet. “This was all focused on people’s primary residences, where they live full time,” he said. The politician says he plans to introduce a bill to mitigate the situation. [27east]