Rhode Island- Move in $

[Michael Medeiros]

I'm renting my first property in RI, my previous experience has been in MA. I typically charge 1st, last and security for a new tenant.

I was told that was not allowed in RI- anyone have experience with this?

thanks.

[Richard Cohn]

The law is clear that security deposits are limited to one months rent.

§ 34-18-19 Security deposits. – (a) A landlord may not demand or receive a security deposit, however denominated, in an amount or value in excess of one month's periodic rent.

So you cannot also ask for a key deposit, pet deposit or cleaning deposit if it exceeds one months rent. However, last month's rent is not a security deposit, It is prepaid rent. In fact, I don't see anything in the law that says you cannot ask for 12 months rent in advance - if you could get someone to pay it.

Tenant advocates (R.I. Legal Services) have taken the interpretation that you cannot ask for first and last month's rent. I would disagree and to my knowledge neither interpretation has been tested in court.

All of this is fairly moot. As a practical matter, most of the R.I. landlords I know only collect first month plus security deposit.

I'll also add that unlike Massachusetts we don't have to maintain separate escrow accounts for deposits or pay interest on the security deposit (Do you guys still have to do that)?