Can I refuse cash as payment on a new lease in NYS?

[Brittany R.]

I want to stop accepting cash as a form of payment for rent. I want to accept only money orders, checks, direct deposit and or electronic payment through Zelle. I've tried to find an answer online but, I can seem to find a clear answer. Can I refuse to accept cash as a form of payment on a new lease? (I'm in contract to buy my 2nd rental property and I'm trying to find out before I lease my next apartments.)

[Wesley W.]

Your lease is a contract.  You dictate the payment terms.  Here is mine:

RENT: A. You agree to pay the monthly rent indicated above via deposit to the following checking account at BANK: account # 123456; routing # 123456  (nearest branch is 123 Main Street, Albany, NY). Rent is due in advance and in full on or before the 1st day of each month without deduction or set off. Time is of the essence. Payment may not be made by third party checks. If rent is not paid physically at a branch (i.e. it is paid online or via bank transfer), the date of payment will be considered the date when funds reach our account.