The law is challenging traditional security deposits as a wave of evictions related to the coronavirus pandemic looms.
― reliant on joint funding with states ― offers claimants a maximum $400 a week.
Many renters avoid getting an eviction on their records by downgrading their housing ― perhaps moving from a two-bedroom to a one-bedroom ― but doing so requires having enough money saved to put down a security deposit. “The new legislation will help them be able to get into less-expensive housing and avoid getting an eviction on their record,” said Finn.Councilmember P.G.
Cincinnati’s renters’ choice legislation applies to all landlords with 25 units or more and offers three options: an insurance premium, in which the tenant pays a small monthly, nonrefundable fee instead of an upfront deposit; an installment plan to spread the deposit equally over six months ; or a reduced security deposit, paid upfront, of no more than half the monthly rent.
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