Cincinnati Program Helps Renters With Security Deposits

For low-income renters, security deposits can be a hurdle they cannot overcome. Cincinnati's “renters’ choice” program aims to help with that challenge by providing alternatives to traditional security deposits.

August 31, 2020, 9:00 AM PDT

By Camille Fink


Carew Tower

Stephanie A Sellers / Shutterstock

"In April this year, [Cincinnati] became the first city in the U.S. to require landlords to accept alternatives to a security deposit. Cincinnati’s bold move has been hailed as a way to disrupt a broken system for renters. Other cities and states are now also offering deposit alternatives to make housing more accessible to low-income renters," reports Liza Ramrayka.

The challenge of coming up with the cash for a security deposit is one that many low-income and homeless residents face. During the pandemic, the increase in evictions and job losses in Cincinnati and other cities across the country have made security deposits even more of an issue.

"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 more if the landlord agrees); or a reduced security deposit, paid upfront, of no more than half the monthly rent," says Ramrayka.

Some landlords argue that dealing with an insurance plan is onerous and costly and that the focus on larger buildings means tenants have fewer options. But supporters say the program will benefit residents most in need of housing assistance. "Cincinnati’s legislation is part of a wider movement to disrupt what is arguably an outdated system, particularly where low-income housing is scarce," adds Ramrayka.

Thursday, August 27, 2020 in Huffpost

Indian Trail, North Carolina

Four ‘Low-Hanging Fruit’ Zoning Reforms

An excerpt from the latest book on zoning argues for four approaches to reform that can immediately improve land use regulation in the United States.

June 26, 2022 - M. Nolan Gray

Car Traffic

San Francisco Just Ended Single-Family Zoning

The San Francisco Board of Supervisors voted to Tuesday to eliminate single-family zoning, but pro-development advocates say additional changes are needed to unleash a wave of construction.

June 29, 2022 - San Francisco Chronicle

Rent

U.S. Rental Market Crosses a New Threshold of Affordability

In a first for the country's rental market, most U.S. apartments are asking for more than $2,000 to rent, according to data recently published by Redfin.

June 21, 2022 - Redfin

New Jersey Power Plant

Supreme Court Guts the U.S. EPA’s Ability to Limit Carbon Emissions

The consequences of this ruling have long been foretold. With the U.S. Environmental Protection Agency now officially barred from the fight against climate change, Congress will have to act to reduce carbon emissions.

June 30 - Yahoo News

Central Los Angeles

California Approves Revised Los Angeles Housing Element

State officials officially approved the city’s housing plan, which was initially rejected for not doing enough to enhance housing equity.

June 30 - Urbanize LA

A fly fisher casts on a fog-covered river.

Lawsuit Could Open Public Access to Colorado Rivers

Colorado is one of few U.S. states that has decided that private property owners supersede the public when it comes to access to rivers and streams.

June 30 - High Country News

New Updates on The Edge

HUD's Office of Policy Development and Research

International Real Estate Strategies and Deal Negotiation

Harvard Graduate School of Design Executive Education

Affordable Housing: Principles for Changing Domestic and Global Markets

Harvard Graduate School of Design Executive Education

Urban Design for Planners 1: Software Tools

This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.

Hand Drawing Master Plans

This course aims to provide an introduction into Urban Design Sketching focused on how to hand draw master plans using a mix of colored markers.