Allows a tenant to pay an increased security deposit in monthly increments over the course of a twelve (12) month period.

## Summary of the Rhode Island Security Deposit Installment Bill

This bill would change how tenants can pay when their landlord increases the security deposit on their rental unit. Under current law, when a security deposit goes up — typically at lease renewal or when a landlord is permitted to raise it — the tenant may need to come up with the additional money all at once. This bill would give tenants the right to spread out that increased amount over 12 monthly payments instead of paying it in a single lump sum.

The bill affects both renters and landlords in Rhode Island. For tenants, it would provide financial relief by allowing them to budget for a security deposit increase gradually rather than facing a potentially large one-time expense. For landlords, it means they would need to accept the increased deposit in installments over the course of a year rather than collecting the full amount upfront. The bill modifies Rhode Island's existing Residential Landlord and Tenant Act, so it would apply to residential rental properties covered by that law.

The bill was introduced in the Rhode Island House of Representatives and referred to the House Judiciary Committee. The committee has recommended holding the measure for further study, with a hearing scheduled for March 18, 2026. This means the bill is still in the early stages of the legislative process and has not yet been voted on by the full House or Senate.