Labor & Economy
Protecting Renters From Security Deposit Theft
Tenants Together has launched “It’s Your Money,” a new campaign to stop security deposit theft by California landlords. The campaign website, www.YourDeposit.org, features know-your-rights information for tenants, tips on how to protect deposits, tenant stories and policy recommendations. The site allows tenants to share their security deposit horror stories.
Security deposit theft is one of the most common grievances among California’s 15 million renters. In a recent survey, over 60 percent of Tenants Together members reported improper withholding of deposit money. This is an astonishing figure, but not one that surprises anyone working with California tenants.
“Millions of dollars are being stolen from tenants every year,” commented Dean Preston, Executive Director of Tenants Together, California’s statewide organization for renters’ rights. “It’s gotten so bad that tenants paying their security deposits don’t ever expect to see that money again. Something has got to change.”
Unlike in many other states, California law does not require deposit money to be held in a separate account, does not require a landlord to pay interest on the deposit to tenants, and rarely imposes any penalty on landlords that improperly withhold deposits.
The “It’s Your Money” campaign seeks to change the dynamic and bring about basic fairness when it comes to security deposits. The campaign coalition is united around three basic principles:
- Deposit money should not be comingled with other landlord assets
- Tenants deserve interest on security deposits
- Landlords who improperly withhold deposits must face meaningful penalties
(This post first appeared on Beyond Chron and is republished with permission.)
-
State of InequalityApril 4, 2024
No, the New Minimum Wage Won’t Wreck the Fast Food Industry or the Economy
-
State of InequalityApril 18, 2024
Critical Audit of California’s Efforts to Reduce Homelessness Has Silver Linings
-
State of InequalityMarch 21, 2024
Nurses Union Says State Watchdog Does Not Adequately Investigate Staffing Crisis
-
Latest NewsApril 5, 2024
Economist Michael Reich on Why California Fast-Food Wages Can Rise Without Job Losses and Higher Prices
-
California UncoveredApril 19, 2024
Los Angeles’ Black Churches Join National Effort to Support Dementia Patients and Their Families
-
Latest NewsMarch 22, 2024
In Georgia, a Basic Income Program’s Success With Black Women Adds to Growing National Interest
-
Latest NewsApril 8, 2024
Report: Banks Should Set Stricter Climate Goals for Agriculture Clients
-
Striking BackMarch 25, 2024
Unionizing Planned Parenthood