Allow landlords to double security deposits?
Next week the New Hampshire House will vote on a bill that would allow landlords to ask for two months’ rent for a security deposit.
Current law only allows landlords to ask for one month’s rent.
Bill supporters argue that one month’s rent is often not enough to cover damage to a property, so landlords are charging higher rents to cover losses.
Other bill supporters argue that allowing landlords to collect two months’ rent in a security deposit will make them more likely to take a risk on renters with bad credit.
Opponents of the bill argue that letting landlords double security deposits will make it even harder for renters to find housing in New Hampshire. Homeless advocates and local welfare officials therefore oppose the bill.
The House killed a similar bill in 2015.
Do you support allowing landlords to collect first and last months’ rent as a security deposit? Let us know in the comments below.