Moving to a new home is costly, with most people either renting moving equipment or hiring professional movers. Renters also typically pay a hefty security deposit on their new residence. Atlanta City Council passed a new ordinance in October 2020 that changed how landlords collect this money.

A security deposit consists of money set aside by the landlord or property management company until the tenant moves away from the property. At that time, it is applied towards mitigating any damage the renter may have caused, and any excess is refunded to the former tenant. Atlanta's "Renter's Choice Ordinance" made it a legal requirement for landlords to provide new renters with alternatives to paying their entire security deposit upfront.

The Council created the ordinance to protect people moving into newly rented homes. They said it "will provide upfront cost relief to individuals and families entering into said rental agreements." The ordinance required landlords to accept payments of the security deposit on an installment plan with equal payments spread out over at least three months. Alternatively, renters could make monthly payments for security-deposit insurance, which is less expensive month-to-month, but the premiums are not refunded to a tenant when they move away. 

The ordinance states that two conditions must be fulfilled for a property to be affected. First, the deposit amount must be 60% or more of one month's rent; second, the landlord must have a structure with ten or more units. 

People opposed to this law say it provides less security to landlords by giving tenants free rein to walk away from rental agreements before paying their full security deposit, which may need more money to cover damage to the property. Supporters believe this ordinance is a positive step for renters, making it possible for them to move into homes without the additional burden of paying a large amount of money upfront.

The question up for debate: Is it a good decision for Atlanta to require landlords to present alternatives to security deposits?