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2004 SESSION

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HB 153 Landlord and tenant; termination of tenancies, security deposit, purchase of damage insurance.

Introduced by: David B. Albo | all patrons    ...    notes | add to my profiles

SUMMARY AS PASSED HOUSE: (all summaries)

Landlord and tenant law; termination of tenancies; security deposit. Amends the Landlord Tenant Act to make it consistent with the Residential Landlord Tenant Act concerning termination of month-to-month tenancies. The bill clarifies that a landlord may purchase commercial insurance for damage coverage in lieu of all or part of a security deposit and grants the landlord the authority to purchase renter's insurance coverage for a tenant. The bill caps the amount of the security deposit and insurance premiums combined at two months' rent that can be collected from a tenant upfront. The bill also allows a landlord to include a liquidated damage penalty in the rental agreement and sets the cap for that penalty.


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