The proposed bill seeks to improve transparency and fairness in the rental housing market by instituting several important provisions. It mandates that property owners provide clear notifications to applicants about all fees related to renting a dwelling unit, including a cap on screening fees set at $50. Owners are required to return the screening fee under certain conditions, such as when a previous applicant is offered the unit or if the application is not processed. Additionally, the bill stipulates that owners must give written notice of any fee increases at least sixty days in advance and limits late fees to a maximum of five percent of the rent.

Moreover, the bill enhances the rights of applicants and residents by allowing them to recover attorney fees and court costs if they win legal actions concerning rental agreements. It establishes penalties for owners who charge unauthorized screening fees, reinforcing protections against unfair practices. The legislation also introduces new definitions and regulations regarding prohibited conduct in rental agreements, clarifying the roles of "applicant," "dwelling unit," "owner," "rent," and "rental agreement." It is deemed an unfair or deceptive trade practice for owners to charge undisclosed fees or fees not included in the rental agreement, thereby promoting transparency and compliance with the Uniform Owner-Resident Relations Act.

Statutes affected:
introduced version: 47-8-3, 47-8-15, 47-8-48
JU substitute: 47-8-3, 47-8-15, 47-8-48, 57-12-2
Final Version: 47-8-3, 47-8-15, 47-8-48, 57-12-2