Adds a provision that allows a tenant to pay the last month's rent or any other prepaid rent. It also increases the amount that a security deposit can be requested from one to two (2) months of rent.

Rhode Island Senate Bill: Residential Tenant Deposits and Prepaid Rent

This bill makes two main changes to Rhode Island's rules about what landlords can require from tenants when they move into a rental home or apartment. First, it would officially allow landlords to ask tenants to pay their last month's rent upfront, or other forms of prepaid rent, at the start of a tenancy. Second, it would double the maximum security deposit a landlord can collect — raising the limit from one month's rent to two months' rent.

These changes would affect both renters and landlords across Rhode Island. For landlords, the bill provides greater financial protection by allowing them to collect more money upfront before a tenant moves in. For tenants, especially those with lower incomes, this could mean needing to come up with a significantly larger sum of money before securing a place to live. For example, under current law, moving into an apartment might require first month's rent plus one month's security deposit. Under this bill, a landlord could potentially require first month's rent, last month's rent, and two months' security deposit — a much larger upfront cost.

The bill has been introduced in the Rhode Island Senate and referred to the Senate Judiciary Committee, where it will be reviewed before any further action is taken. It has not yet been passed into law.