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House Co-Sponsorship Memoranda
House of Representatives
Session of 2023 - 2024
Regular Session
MEMORANDUM
| Posted: | May 6, 2024 04:42 PM |
|---|---|
| From: | Representative Valerie S. Gaydos |
| To: | All House members |
| Subject: | Renter's Choice |
| Getting into a new apartment often requires having to pay a landlord a security deposit which is typically one month's rent, and which is held by the landlord to cover unpaid rent or damage left by tenants once moved out. Cash security deposits can be a huge burden to tenants because it adds to move-in costs and can be hard to recover. It would also enable persons who may be leaving a domestic abuse situation to find new housing more quickly and affordably. In the current economy, many Americans, especially single mothers, the recently unemployed, etc. often live paycheck to paycheck and cannot afford high security deposits, or are forced to delay their projected move-in date to save the needed funds. The COVID19 Crisis has only made things more problematic. Recognizing the considerable financial hardships that security deposits can present to obtaining housing, I am introducing legislation to give renters a choice. If a landlord requires a security deposit, that landlord must offer the same requirement of rent in advance to all tenants, and if they participate in a deposit alternative program, such as cash through a schedule of installment payments or lease insurance, they must offer it to all tenants. In the near future, I plan to introduce legislation that eliminates the obstacle of upfront cash deposits for affordable housing. Instead, renters will have secure alternatives that protect both their interests and those of landlords. |