Senate approves regulated 'conditional deposits' bill after tight vote amid housing debate

The Senate on Thursday approved House Bill 1336 FN, a bill that creates a statutory framework for regulated conditional deposits (RCDs) — an alternative/augment to traditional security deposits landlords may require of prospective tenants.

Supporters described RCDs as a tool to help renters who would otherwise be denied housing because of credit history or gaps in prior landlord references. Senator McConi, presenting the Commerce Committee report, described the models as a means to "offset potential risk associated with a tenant" and said the bill would help marginal applicants secure housing they could otherwise not access.

Opponents said the new tools would, in practice, raise the upfront cost of moving. "The average the median rental for an apartment in the state of New Hampshire is well over $2,000 a month," said Senator Rearen, arguing that combining rent and two months' RCD/security sums could require thousands of dollars up front: "You're over $8,000 now to get the average apartment in the state of New Hampshire." He and others warned municipal rental-assistance funds would be stretched and that ordinary renters — not the intended high-risk group — could be priced out.

A roll-call on the committee amendment carried the amendment and the final 'ought to pass as amended' motion passed on roll call 14–9; the bill was ordered to third reading.

Why it matters: The bill responds to two tensions in housing policy — renters need options to access private-market units while landlords want protection from losses and damage. The RCD approach seeks to share risk; critics say it shifts more near-term cost burden onto renters and public assistance programs.

What comes next: House Bill 1336 was ordered to third reading; any final passage will be recorded at that stage. The Senate adopted a committee amendment clarifying municipal return of advanced funds and other consumer protections.

Attributions: Quotes above are taken from floor debate (Senator Rearen, Senator McConi); vote totals were read into the record on the floor (final recorded result 14–9).