Bill > H7130

This bill amends Section 34-18-19 of the General Laws, which pertains to the Residential Landlord and Tenant Act, to allow tenants to pay an increased security deposit in monthly installments over a twelve-month period if their rent is increased and the landlord subsequently raises the security deposit. A security deposit is a sum of money a tenant pays to a landlord at the beginning of a tenancy to cover potential damages or unpaid rent. This provision aims to make it more manageable for existing tenants to afford a higher security deposit when their rent goes up, and the bill will become effective immediately upon its passage.

Justice

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