Security Deposit Guidelines
Specific to the City of Cincinnati
Legislation enacted January 28, 2020
Please be aware that the City of Cincinnati has passed new legislation regarding the newly minted term "Renters Choice." The law purports to lower the threshold to housing, making it easier for renters to access better housing options. The link to the Cincinnati Enquirer Editorial article covers the details pretty well. This will go into effect in 90 days. https://www.cincinnati.com/story/opinion/2020/01/15/editorial-security-deposit-options-remove-affordable-housing-barriers/4454165002/
There were multiple versions of this bill, with the first giving a single company a mandated monopoly. The association repeatedly stated opposition to the bill, even meeting with the Enquirer Editorial Board. Numerous changes were included to improve the bill, however, GCNKAA still believes that State Law provides a preemption of this law and that the general need is not real. There has been no cry for a resolution to security deposits, instead it has been a manufactured problem with a solution that places some owners at increased risk. Ideally, the law minimizes who is at risk, but it still places owners at risk with additional regulation on the rental industry.
A copy of the final version of the language is below: