Laws

• Application Fee – There is no limit the landlord can charge a tenant for a non-refundable fee (no statute).
• Security Deposit – The landlord is legally permitted to demand one month’s rent for tenancies lasting less than a year. For tenancies lasting a year or more, the landlord may charge more but is required to pay the tenant annual interest “equal to the current passbook interest rate in savings and loan accounts in the State” (§ 47-8-18(A)).