Involving city leaders in the search for housing affordability solutions

Miami and Los Angeles mayors join Rhino in urging more leaders to deliver immediate relief to renters

Today, Miami Mayor Francis Suarez, a Republican, and Los Angeles Mayor Eric Garcetti, a Democrat, joined Rhino Chairman Ankur Jain in authoring a piece published by CNN calling on city and state leaders across the country to follow the proven model for legislative action that Rhino has worked to drive in Cincinnati, Ohio and Atlanta, Georgia.

This collaboration remains essential as renters around the country continue to search for financial relief. While the federal stimulus package passed in April provided short-lived assistance for families in the form of $1,200 checks delivered to Americans making less than $75,000 a year, those funds have been long depleted for households in need. As Americans fall further into financial uncertainty, the federal government has inexcusably failed to put partisan differences aside and mobilize in delivering additional support.

In late 2019, Rhino published the Renter Choice and Flexibility Plan as a call to action for city and state policymakers to unlock the $45 billion sitting idle in cash security deposits nationwide. With more Americans renting than ever before and costs of living continuing to rise, Rhino’s call to action has been received with great enthusiasm in cities and states across the country in 2020. Rhino was proud to partner with forward-thinking leaders from the city governments of Cincinnati, Ohio and Atlanta, Georgia respectively to bring Renter’s Choice legislation to renters, allowing them to opt in to low-cost insurance programs like Rhino’s that made $100 million and $755 million available in each city.

These legislative movements have demonstrated how the simple act of providing the choice to use affordable alternatives to burdensome cash security deposits — like Rhino’s deposit insurance — can have a profound impact in bringing down the upfront costs of renting. The movement launched by Rhino in partnership with city and state policymakers not only offers the potential for a $45 billion national stimulus; injecting money currently sitting in cash deposits back into economies — but also highlights the universal application of a financial tool that is already being used by millions of renters and property owners across the country.

With several additional large cities poised to pass Renter’s Choice bills before the end of the year, this movement continues to be accepted as a legitimate solution providing financial relief for renters. Rhino is committed to continuing the work of fostering collaboration between the public and private sectors to deliver choice and optionality to renters and property owners in 2021 and beyond.

--

--

--

Our mission is to give renters financial alternatives to afford the homes they want.

Love podcasts or audiobooks? Learn on the go with our new app.

Recommended from Medium

Central Banks Exacerbate Wealth Divide

https://www.zerohedge.com/markets/bubble-everything-how-debt-driven-economy-creates-more-frequent-cr

With The American Dream Fading For Many, Proposals for Universal Basic Income Gain Support

Sign-up now!

Understanding the housing market

How to Read the Music of Economic Forecasts

What I wish I knew earlier about our financial system and wealth inequality

Picture of a person who has skeleton makeup on half of her face.

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
Team Rhino

Team Rhino

Our mission is to give renters financial alternatives to afford the homes they want.

More from Medium

Buy Verified Cash App Account with BTC Enable

Dust Ventures and CRODO — a mutually beneficial partnership?

How DAOs Have Become Key Players in the Play-To-Earn (P2E) Crypto Gaming Community

The Ultimate Non-fungible tokens (NFT) Guide for Beginners —