Will Tampa Area Renters Avoid Expensive Security Deposits
Will Tampa area renters avoid expensive security deposits? Florida is facing a crisis when it comes to affordable housing. To address this problem, lawmakers have come up with a proposal that could potentially lead to renters paying non-refundable monthly fees instead of security deposits. The House Civil Justice Subcommittee voted 13-4 to approve a bill stating that it would provide renters with more options if they can’t afford security deposits that can run into thousands of dollars.
Critics of the bill are concerned that the fees wouldn’t be capped and renters wouldn’t receive their money back when they move out, unlike security deposits. This, in turn, would be perceived as a tax for the poor, especially at a time when Floridians are struggling more than ever to keep up with their increasing rent payments.
The bill is sponsored by Rep. Jim Mooney, R-Islamorada, and will be filed for the legislative session starting March 7. Renters would have the choice of paying either the fees or deposits, and they could also choose to stop paying the fees and start paying the security deposit.
LeaseLock, a company that provides insurance to landlords against unpaid rent and tenant damages, is lobbying for the bill. The company has stated that based on national averages, a tenant paying $1,500 in rent per month would pay a monthly fee of $25. However, some lawmakers, such as Rep. Ashley Gantt, who is also a renter, are concerned about the lack of guidelines for the fees.
The bill may be a step in the right direction for those who are struggling to afford security deposits. Will Tampa area renters take advantage if the bill passes? The lack of caps on fees is a concern that needs to be addressed. It remains to be seen if the bill will pass through the Senate this time and become law. TBBJ
