New Security Deposit Guidelines

[Amber Carter]

Cincinnati has recently implemented an alternative security deposit option for renter’s to pay.

One of the options: rental insurance, which allows renters to pay a small premium each month, instead of making one cash security deposit.

This is to help alleviate barriers to renting an apartment, the law says landlords must give renters options other than a traditional cash security deposit.

I have managed properties that offered surety bonds, which was a great option for the renter as well as the property.

Has anyone worked with alternative deposits previously ? If so, how was your experience?

Source: Fox19NowNews