KMK Law Real Estate Blog

In January, Cincinnati City Council passed legislation imposing restrictions on residential landlords’ right to collect security deposits from their tenants. Specifically, the ordinance amends Chapter 871 of the Cincinnati Municipal Code to require that certain residential landlords give their tenants alternatives to the traditional security deposit (a payment equal to one month’s rent, due at lease signing). Those alternatives include (1) rental security insurance, (2) a reduced security deposit (no more than 50% of the monthly rent), and (3) payment of the full security deposit, but split-up into at least six smaller, monthly installments.