New York COVID-19 Response Program

Learn how Executive Order 202.28 affects New York landlords and renters.

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Rhino New York LLC (Rhino Insurance Agency in California) (Rhino) is a licensed insurance agency in the states where it transacts insurance.

Coverage is available only in the states where insurance is currently being transacted, and is subject to policy terms, conditions and exclusions. Rhino acts as a general agent for one or more insurance carriers. Insurance may be underwritten by one of the following insurance companies which carry an A.M. Best rating of "A" (Excellent): National Specialty Insurance Company (NAIC # 22608), Bedford, TX and State National Insurance Company, Inc. (NAIC # 12831), Bedford, TX.

Coverage for the benefit of a landlord with respect to a tenant’s unit is subject to underwriting review and approval with respect to that tenant. Landlords are obligees under insurance placed/underwritten by Rhino.

Deposit Management services are not an insurance product and are provided exclusively by Rhino Management Services LLC.

Rhino will receive compensation from the Insurers based on insurance Rhino places for the benefit of a landlord and their individually bonded tenant. For more information about Rhino’s compensation, please request a copy of Rhino’s Producer Compensation Disclosure. If you would like information about other insurance coverage options you should consult another insurance producer.

On May 7, 2020, Gov. Andrew Cuomo signed into effect New York State Executive Order No. 202.28, which impacts the handling of security deposits as well as evictions, foreclosures, and late fees through at least June 6, 2020.  

Here’s the impact to property owners and landlords as it relates to security deposits:

  • Upon the consent of a tenant, landlords can enter into a written agreement (can be as simple as an email, as per this order) with the tenant to use an existing security deposit, plus any interest it has accrued, to pay rent that is in arrears or will become due.
  • If the amount of an existing cash deposit is less than a full month's rent payment, this order does not waive any amount of rent due.
  • Landlords are required to provide this relief, if requested, to tenants who are eligible for unemployment insurance or benefits under state/federal law or otherwise facing hardship due to COVID-19.
  • Landlords CANNOT exercise this option without the tenant requesting it, and cannot pressure/compel tenants to accept this option.
  • Tenants must replenish the security deposit within 90 days of its usage toward rent obligations. Tenants may elect to use insurance as a replenishment for the cash deposit. If tenants choose insurance as a method for replenishment, landlords MUST accept it.

What Executive Order 202.28 means

Our COVID-19 Response Program is based upon our interpretation of the Executive Order, it does not provide legal advice or grant rights to any party. Please seek advice from your own legal counsel to understand the full extent of what the Executive Order means for you. As we monitor changes and updates by the state, our program is subject to change.

 Our program is in response to the Executive Order 202.28 in New York state and our program is exclusively for property owners/landlords and renters in New York.

The June 7th deadline will be modified should the executive order be extended by the state.

Property owners and landlords in New York can introduce Rhino to renters who specifically qualify for financial relief under the Executive Order. For renters to receive an invite, property managers must provide Rhino with a list of impacted renters no later than June 7th, 2020.

Rhino’s New York COVID-19 Response program

About our program

  • Upon the consent of a tenant, landlords can enter into a written agreement (can be as simple as an email, as per this order) with the tenant to use an existing security deposit, plus any interest it has accrued, to pay rent that is in arrears or will become due.
  • 90 days from the security deposit being used for rent, tenants will be provided an invite to enroll with Rhino with confirmation from their landlord/property manager that they are eligible based on the criteria below.
  • Coverage amount will be equal to the cash security deposit credited as part of the Executive Order.
  • Criteria to determine tenant eligibility includes but isn't limited to:
    • Be "current" on rent in July and August, having not missed a payment since the use of the security deposit.
    • Use of the security deposit will not be credited as a missed payment.
    • No past delinquencies in the lease history.
  • Considered in "good standing" by the partner at the time of invite.
    • Good standing as defined by the partner per their normal tenant policies i.e. no damages on the unit.