Just weeks after he announced the effort at the NewDEAL Leaders Conference, Cincinnati Councilmember P.G. Sittenfeld’s initiative to make rent more affordable is under consideration by the Council and garnering national attention. Also supported by NewDEAL Leader Mayor John Cranley, the legislation provides a low-cost alternative to security deposits, which can create significant barriers to housing. The proposal would allow a tenant who is applying for a home or rental unit to choose between making a traditional security deposit or purchasing insurance that provides full coverage for both tenant and landlord. After hearing interest in this idea from many NewDEALers at last month’s conference, NewDEAL plans to track and promote implementation efforts across the country, and encourages anyone pursuing a similar effort to reach out.
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