Bill > HB1272

This bill amends North Dakota's laws regarding tenant security deposits and property inspections, introducing several key provisions. The bill limits security deposits to one month's rent, with exceptions for individuals with felony convictions or previous rental agreement violations, and allows a separate pet security deposit up to $2,500 or two months' rent. It requires landlords to deposit security deposits in a federally insured, interest-bearing account and provides detailed guidelines for how and when these deposits can be used or returned. The bill introduces mandatory move-in and move-out inspections where both the landlord and tenant must jointly document the property's condition, create a written statement, and sign it. If either party fails to participate in the inspection, they are deemed to accept the other party's assessment. The bill also strengthens tenant protections by requiring landlords to provide an itemized list of any deductions from the security deposit within 30 days of the move-out inspection, with specific details about estimated and final costs. Additionally, the bill maintains existing provisions that make landlords liable for treble damages if they withhold security deposits without reasonable justification and requires security deposits to transfer with property ownership.