Cincinnati passes groundbreaking renter’s choice law to help those struggling with security deposits
The city became the nation’s first to adopt this housing legislation that requires landlords to offer accessible alternatives to the traditional lump sum upfront costs.
In a groundbreaking move to help make housing more affordable, Cincinnati has passed a legislation that requires landlords to offer alternatives to traditional security deposits.
City Council member P.G. Sittenfeld introduced the bill after months-long collaborative efforts between tenant groups and property owners. There are three alternatives: an installment plan that allows the renter to pay the security deposit over the course of at least six months; a reduced security deposit no more than the equivalent of 50 % of the first month’s rent; or rental security insurance in which tenants pay an insurance company a nominal nonrefundable monthly fee in lieu of a deposit.
Hurtles like security deposits and application fees can make it hard for low-income families to rent a safe place to live, and could sometimes be used to exclude people from certain housing, according to Martha Galvez, a researcher in the Metropolitan Housing and Communities Policy Center at the Urban Institute.
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