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2007 SESSION
HB 2188 Landlords; notice of termination of lease for substantial rehabilitation of building.
Introduced by: G. Glenn Oder | all patrons ... notes | add to my profiles | history
SUMMARY AS PASSED:
Landlord termination of lease for rehabilitation; update of interest on security deposit. Allows a landlord to terminate a lease upon 120 days' notice to tenant for substantial rehabilitation of a building with four or more rental units, regardless of the terms of the lease. The bill also (i) provides that a landlord is liable only for the tenant's actual damages proximately caused by the landlord's failure to exercise ordinary care in maintaining a habitable premises, (ii) authorizes landlords to receive on security deposits an annual interest rate equal to four percentage points below the Federal Reserve Board discount rate, rather than the current one percent, (iii) codifies current practice that a landlord may charge a $50 processing fee for a bad check tendered for rent, and (iv) updates the 2007 interest rate on security deposits.
SUMMARY AS PASSED HOUSE:
Landlord termination of lease for rehabilitation; update of interest on security deposit. Allows a landlord to terminate a lease upon 120 days' notice to tenant for substantial rehabilitation of a building with four or more rental units, regardless of the terms of the lease. The bill also codifies current practice that a landlord may charge a $50 processing fee for a bad check tendered for rent. The bill also updates the 2007 interest rate on security deposits.
SUMMARY AS INTRODUCED:
Landlord termination of lease for rehabilitation; update of interest on security deposit. Allows a landlord to terminate a lease upon 120 days' notice to tenant for rehabilitation of a building with four or more rental units, regardless of the terms of the lease. Also formalizes that a landlord may charge a $50 processing fee for a bad check tendered for rent. Also would update interest rates on security deposits.