This bill amends the Residential Landlord and Tenant Act to require landlords to give tenants at least 120 days' notice before increasing rent. Currently, landlords are only required to give 30 days' notice. The bill also increases the notice requirement for rent increases for tenants over the age of 62 to at least 150 days. Violations of this requirement would be considered a deceptive trade practice and punishable by a fine of $500. The bill would take effect upon passage.

Statutes affected:
365: 34-18-16.1