Repeals maximum security deposit limits for tenants in Connecticut.
The bill repeals the current statutory maximum of one or two months' rent a landlord can require a tenant to pay as a security deposit. It also mandates that landlords deposit security deposits into escrow accounts, maintain interest on these deposits, and provide tenants with written notices regarding their deposits. The bill outlines procedures for returning security deposits to tenants and imposes fines for non-compliance.
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