The bill amends the "Residential Landlord and Tenant Act" by introducing a new section that limits the amount a landlord can charge for rental application fees. Specifically, it prohibits landlords from charging a rental application fee that exceeds ten percent (10%) of one month's periodic rent. This new provision is aimed at regulating the costs associated with applying for rental housing and is added as section 34-18-58.

Additionally, the bill amends the definitions section (34-18-11) of the same act to include a definition for "rental application fee," which is described as fees collected by landlords to process a rental application. This definition is inserted as a new point in the list of definitions, which also includes terms such as "abandonment," "dwelling unit," "landlord," "rent," and "tenant," among others. The act is set to take effect upon passage, indicating that the changes will be immediate once the bill is enacted.

Statutes affected:
312: 34-18-11