See: Rent payment rules in NY Technically, NY state has a law in general that prohibits businesses of any kind refusing to do business using cash as a means of payment.I had a tenant on electronic payments thru ClearNow. but was dropped by the service after several cases of insufficient funds, and them charging him fees.

Are you selling all your stock investments now that their values are dropping?

It’s counterintuitive that rental demand would drop as buying demand is plummeting but this could signal significant weakness in the economy.

The data helped me figure out that it was an intermittently leaking toilet, got if fixed, and next bill dropped to $120. 

Other investors have told me: buy close to the $200,000 price point because property values are unlikely to take a huge drop (not as far to fall) unlike buying a $400,000 (or more) property but buying the more expensive property you'll less likely have tenant management issues (e.g. someone paying $2500 in rent will less likely destroy your property than someone paying $800 to $1000 rent). 

Back in 2019, the Bank of Canada dropped its benchmark interest rate to nearly 0% making it a lot cheaper for citizens to take out mortgages.

With the Fed continuing to push up interest rates (another .75% rate hike today 11/2) and related 30 mortgages for retail buyers at or above 7%, buyers have taken a large inhale and are firmly sitting on the fence with sales volumes dropping 80% in some of our local zip codes from 6 months ago. 

The problem is that many people who own STRs are not experienced so they just drop their prices when things get slow.I account for those abortions and eliminate the very high and very low ones and the ones with lots of rentals at low but not stupid prices.  

As an aside, if you plan to hold and refinance after the rehab do not use credit cards as a high utilization will drop your credit and make the refi difficult and expensive. 

Make sure the rent covers your nut and then do it again.....This is really pretty easy.....and a good time to buy now with prices dropping...