Renter's Choice Bill Unanimously Approved By Atlanta City Council

ATLANTA, GA — The Atlanta City Council unanimously approved a new bill Oct. 5 that would allow renters to pay security deposits in installments.

The Renter’s Choice Bill would allow renters to pay the deposit in installments over three months. It only applies if the security deposit is 60 percent or more of one month’s rent and for landlords with 10 or more units.

Under the measure, tenants also have the option to purchase security deposit insurance for $8 to $10 a month.

Atlanta City Councilman Amir Farokhi proposed the bill.

"We're in a time right now, in part, because of the pandemic, but really, for many years now that it's just harder to make ends meet. This is one small thing we can do to make it a little bit easier for people to keep a roof over their heads," Farokhi said in a video.

"The landlord is protected under this ordinance so it's the best of both worlds."

Atlanta is the second city in the country after Cincinnati to pass this kind of law, reported the Atlanta Journal-Constitution.

A Zillow study last year showed that 35 percent of tenants said saving for application fees and security deposits is a challenge.