SB 347

Bill Subjects

Landlord Tenant Law Security Deposit Unpaid Rent

Abstract

Authorizes a tenant to change the date on which the tenant's rent is due by making a one-time payment to cover the period between the original due date and the newly established due date. Clarifies that a landlord may only assess a late fee on any unpaid rent and not the entire monthly rent. Reduces the maximum amount of a late charge for unpaid rent from 8% of the unpaid amount to 5% of the unpaid amount. Specifies that if rent is increased, the landlord may also proportionately increase the amount due as a security deposit; provided that a continuing or renewing tenant shall have at least 30 days to pay the additional amount due. Makes conforming amendments.