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2020 SESSION

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HB 1333 Landlord and tenant; damage insurance shall conform to certain criteria.

Introduced by: Mark L. Keam | all patrons    ...    notes | add to my profiles

SUMMARY AS PASSED: (all summaries)

Landlord and tenant; damage insurance in lieu of security deposit. Provides that a landlord may permit a tenant to provide damage insurance coverage meeting certain criteria in lieu of the payment of a security deposit. The bill also caps the total amount of any combination of security deposit and rental insurance coverage required by the landlord to twice the amount of the periodic rent payment and provides that a tenant who initially opts to provide damage insurance in lieu of a security deposit may, at any time without consent of the landlord, opt to pay the full security deposit to the landlord in lieu of maintaining a damage insurance policy.


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