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Lawmakers Hear Arguments Over ‘Regulated Conditional Deposit’ Proposal to Expand Rental Access
Summary
The Commerce Committee heard HB1336 to permit a one-month 'regulated conditional deposit' (RCD) for marginal applicants and allow third-party refunding to charities; landlords and owners praised safeguards while housing advocates and municipal welfare directors warned it could disadvantage lowest-income renters and strain public and nonprofit funds.
Representative Joe Alexander introduced HB1336 as a narrowly targeted effort to help applicants who would otherwise be denied housing by creating a regulated conditional deposit (RCD) — an incremental deposit of up to one month’s rent — and by permitting landlords to refund security deposits to third-party payors when agreed upfront, allowing charities to operate more like revolving funds.
Alexander said the bill creates a narrow exception to New Hampshire’s one-month security-deposit cap only for applicants who would otherwise be denied, and includes statutory safeguards “to ensure reasonableness and avoid outcomes where supplying a RCD would stretch a household’s finances beyond reasonable limits.” He also told the committee the change would legalize refunds to third-party payors when the landlord, tenant and payer agree in writing so organizations can reuse returned funds.
Nick Norman, representing the…
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