An Act relative to reducing barriers to housing

This bill amends Massachusetts housing laws to allow landlords and tenants to agree on a security deposit insurance fee as an alternative to a traditional cash security deposit. The fee, which can be non-refundable or recurring but must not exceed the first month's rent, is used to purchase insurance coverage for unpaid rent or property damage rather than being held by the landlord. Landlords who choose to offer this option must present it equally to all approved applicants regardless of income, race, or credit score, and they cannot discriminate against tenants who select this option or who prefer to pay a standard deposit. Additionally, tenants paying the insurance fee retain the right to opt out of the recurring obligation once they have paid any required traditional deposit in full.