(e) This section does not preclude any landlord who rents a furnished apartment from demanding
or receiving a furniture security deposit if the replacement value of the furniture
being furnished by the landlord valued at the time the lease is executed is five thousand
dollars ($5,000) or greater, in which instance the landlord may charge a separate
furniture security deposit of up to one month’s periodic rent.
(f) Upon termination of the tenancy, the amount of furniture security deposit due to the
tenant shall be the entire amount given by the tenant as a furniture security deposit,
minus the amount due, if any, for reasonable cleaning expenses and repair and the
amount of physical damages to the furniture, other than ordinary wear and tear. The
landlord shall deliver the notice, together with the amount of the furniture security
deposit due to the tenant, within twenty (20) days after the later of either termination
of the tenancy, delivery of possession, or the tenant’s providing the landlord with
a forwarding address for the purpose of receiving the furniture security deposit.
(g) In the event the landlord transfers his or her interest in the premises, the holder
of the landlord’s interest in the premises at the time of the termination of the tenancy
is bound by this section.
(h) No rental agreement shall contain any waiver of the provisions of this section.
History of Section.
P.L. 1986, ch. 200, § 2; P.L. 2015, ch. 125, § 1; P.L. 2015, ch. 134, § 1; P.L. 2018,
ch. 229, § 1; P.L. 2018, ch. 260, § 1.