I applaud Cincinnati Council Member PG Sittenfeld for his bold leadership in introducing renter choice legislation and Cincinnati Mayor John Cranley for his support of this action. Renters should be empowered to make decisions based on their own unique financial situations, and offering them an opportunity to replace cash security deposits with an insurance alternative will save them millions of dollars. Insurance solutions helped renters save over $200 million in upfront move-in costs in the past year alone, and Council Member Sittenfeld’s initiative to offer deposit alternatives to all in the Cincinnati rental marketplace will deliver opportunity for hardworking renters and an economic development win for all. The courageous, constituent-first leadership shown by Council Member Sittenfeld and Mayor Cranley should serve as an example to elected officials around the country of how to respond to our affordability crisis.
Just over a month ago, Rhino released our Renter Choice and Flexibility Plan as a call to action for elected officials to take direct, pragmatic steps to address the financial burden that high upfront move-in costs place on renters across our country. As Americans of all ages grapple with things like rising rents, steep healthcare costs, and mountains of student loan debt, more and more people are unable to save for their futures. Elected officials have an opportunity to rise to this occasion and provide renters with choices to dramatically lower costs.
Rhino will continue its efforts to engage with city and state government officials nationwide to urge them to embrace efforts to bring choice to renters, following the lead of Council Member Sittenfeld and Mayor Cranley.
-Paraag Sarva-CEO, Rhino