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House of Representatives
Session of 2021 - 2022 Regular Session

MEMORANDUM

Posted:	December 4, 2020 09:25 AM
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 are held by landlords to cover unpaid rent or damage left by tenants who move out. Cash security deposits can be a huge burden to tenants because they add to move-in costs and can be hard to recover. However, many Americans live paycheck to paycheck and can't afford these deposits or are forced to delay their move-in to save the needed funds. The COVID19 Crisis has just made things more problematic. Recognizing the considerable financial hardships that security deposits can present, I am introducing legislation to give rents a choice. If a landlord requires a security deposit, that landlord must not ask for more than two month's rent in advance and must participate in a deposit alternative program such as cash through a schedule of installment payments or lease insurance.  By giving renters the option to rent without an upfront deposit, we would be removing a roadblock to housing, help landlords get their deposits upfront by offering alternatives, puts cash back into peoples pockets.  Please join me in co-sponsoring this legislation.

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