The company that runs Stuyvesant Town says tenants who lost income due to the  coronavirus may apply their security deposits toward rent.

In a memo released Monday, Beam Living, the management company for the city’s largest rental complex, which is owned by Blackstone, said tenants experiencing financial hardship may either defer rent or use their security deposits to cover it. 

The move comes as thousands of recently laid-off New Yorkers struggle with how to pay rent, which is due April 1.

“This is a big deal because it signals to the rest of New York City about how landlords can provide rent relief to their affected tenants right now,” said City Councilman Keith Powers, who represents the area. “And it serves as a bridge to a bigger conversation to how we should be dealing with rent.”

Mayor de Blasio and other elected officials have called on the state to adopt a similar plan citywide. Governor Cuomo has been cool to the idea, saying that the state has already paused evictions until at least June 20th.

The rules apply to Beam Living’s other buildings, which include Peter Cooper Village.