Bill > H5127

This bill modifies Rhode Island's existing residential landlord and tenant law by allowing tenants more flexibility when their security deposit needs to be increased due to a rent increase. Specifically, if a landlord raises a tenant's rent and consequently requires a higher security deposit, the tenant can now pay the additional security deposit amount in monthly installments spread over twelve months, rather than having to pay the entire increased amount upfront. This provision helps reduce the immediate financial burden on tenants when their rent is raised by providing them with a more gradual way to meet the updated security deposit requirement. The bill amends Section 34-18-19 of the General Laws in the Residential Landlord and Tenant Act, adding language that explicitly permits this prorated payment method for security deposit increases. The legislation will take effect immediately upon its passage, offering tenants a new option for managing security deposit adjustments in a more financially manageable way.

Justice

https://status.rilegislature.gov/