Bill > H724

This bill amends Section 15B of Chapter 186 of the Massachusetts General Laws to update the requirements for advance rent payments and security deposits. Key provisions include: 1) Requiring landlords to provide detailed receipts for advance rent payments, including information on interest accrual and return of deposits; 2) Mandating that landlords pay interest on security deposits held for over a year, and return accrued interest to tenants; 3) Specifying penalties for landlords who fail to properly hold or return security deposits, including forfeiting the right to retain any portion of the deposit. The overall goal is to provide stronger protections for tenants regarding advance payments and security deposits.

Justice

https://malegislature.gov/Bills/190/H724