In an effort to make renting an apartment more accessible, the Cincinnati City Council passed a new law on Wednesday that gives renters alternatives to cash security deposits. The law, approved by the council 6-1, was proposed by councilman P.G. Sittenfeld and will take effect in 90 days.

Under the new laws, renters can be offered one of three news options by their prospective landlords instead of traditional security deposits.

Rental security insurance would allow renters to pay as little as $3 a month in addition to rent. While renters would not get this money back, it would allow then to begin renting for less money.

Renters can pay the amount through a monthly installment, over a period of at least six months. Finally, a reduced security deposit payment can be made, amounting to a maximum of half the first month’s rent.

Cincinnati has become the first city in the U.S. to adopt housing legislation such as this one. The law has so far been met with a warm reception from the nation's housing experts.

“This legislation is in a very different place, and it is in a better place,” Sittenfeld said of the new plan. “We today are making a big, bold and exciting change. The impact of this legislation is removing a barrier to housing. People want to do the best they can for themselves and their families.”

Initially, rental security insurance was the only alternative option that the legislation called for. However, after pushback from local landlords, the other two options were negotiated. Landlords of properties with 25 or fewer units are exempt from the law.

“I am not one to get excited for legislation that comes through council” Mayor John Cranley said. “This is one of those exceptions. This is a meaningful act of social justice.”

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