Q: Is paying security deposit via wire transfer legitimate before signing lease?
I was recently approved for an apartment and have been working with a licensed realtor who is in contact with the building management company. However, I have not yet signed the lease. The landlord is asking for the security deposit and first month's rent to be paid via wire transfer before moving in, with all subsequent rent payments to be made by check. Is this a legitimate practice, and what questions should I ask to ensure there are no issues with this method of payment?
A:
Dear Manhattan Tenant:
Nothing is illegal about the initial payment request by electronic transmission and subsequent rent payment by check. Although the latter is more or less old-fashioned, it is not illegal. You could also pay by cash, even if the landlord requires a check.
But, you do not pay without a lease. Often with electronically signed leases, those two initial payments are simultaneous.
https://www.nysenate.gov/legislation/laws/RPP/235-E
Daniel Michael Luisi agrees with this answer
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