Connecticut House Bill HB05641

Connecticut 2017 Regular Session

• Introduced: 1/13/17
• Refer: 1/13/17

Caption

An Act Increasing The Maximum Allowable Security Deposit Amount.

Impact

The proposed changes in HB 05641 would have a significant impact on the relationship between landlords and tenants within the state. By allowing landlords to charge higher security deposits, the bill aims to alleviate some of the financial risks that landlords face, especially in a rental market characterized by high turnover. However, this could also place an additional burden on tenants, making it more challenging for them to afford the upfront costs associated with renting a property, potentially exacerbating housing affordability issues.

Summary

House Bill 05641 proposes an amendment to existing housing regulations that would increase the maximum allowable security deposit amount a landlord can charge a tenant. Specifically, the bill seeks to raise the limit from two months' periodic rent to three months' periodic rent. This amendment is intended to provide landlords with greater financial security and facilitate the management of rental properties. Proponents of the bill argue that enhancing the security deposit limit could help landlords recover damages or unpaid rent more effectively.

Contention

A notable point of contention surrounding HB 05641 centers on the balance of interests between landlords and tenants. Supporters of the bill, primarily from the real estate sector, argue that higher security deposits are necessary to protect property investments and ensure landlords can cover potential losses. Conversely, tenant advocacy groups express concern that increasing the maximum deposit may restrict access to housing for lower-income renters who already struggle with upfront costs. This clash highlights the broader debate about housing affordability and tenant rights within the legislative process.