The bill amends Section 34-18-16.1 of the General Laws in Chapter 34-18, known as the "Residential Landlord and Tenant Act," to address the issue of housing insecurity and instability in the state. It cites findings from the 2022 Housing Fact Book by HousingWorksRI at Roger Williams University, which highlight the significant increases in housing costs, partly due to the Covid-19 pandemic. The bill acknowledges the challenges faced by Rhode Islanders, including those on fixed incomes, in affording housing and competing for affordable units, which has led to increased homelessness and housing retention issues.

The bill proposes changes to the notice requirements for rent increases. It extends the notice period that landlords must give to tenants before imposing a rent increase from thirty (30) days to sixty (60) days. Additionally, for month-to-month tenants over the age of sixty-two (62) years, the notice period before a rent increase is extended from sixty (60) days to one hundred twenty (120) days. The act is set to take effect upon passage, indicating that these changes would become law immediately after being signed.

Statutes affected:
5362  SUB A: 34-18-16.1
5362: 34-18-16.1