Massachusetts H1316 proposes a security deposit insurance fee as an alternative to traditional security deposits for tenants.

Massachusetts H1316 aims to reduce housing barriers by allowing tenants to pay a security deposit insurance fee instead of a traditional security deposit. This optional fee can be non-refundable, recurring, or paid in a chosen schedule. Lessors must offer this option to all approved applicants, regardless of personal characteristics, and cannot use the choice of payment method as a criterion for occupancy approval. Courts and dispute resolution bodies will not treat the insurance fee as a security deposit.

Massachusetts H1316 proposes a security deposit insurance fee as an alternative to traditional security deposits for tenants.

Massachusetts H1316 aims to reduce housing barriers by allowing tenants to pay a security deposit insurance fee instead of a traditional security deposit. This optional fee can be non-refundable, recurring, or paid in a chosen schedule. Lessors must offer this option to all approved applicants, regardless of personal characteristics, and cannot use the choice of payment method as a criterion for occupancy approval. Courts and dispute resolution bodies will not treat the insurance fee as a security deposit.