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In the latest of bans to come out of this looney tunes City Council now comes word they want to prevent landlords from running credit checks on prospective tenants. http://www.nydailynews.com/news/poli...icle-1.2428900
In the latest of bans to come out of this looney tunes City Council now comes word they want to prevent landlords from running credit checks on prospective tenants. http://www.nydailynews.com/news/poli...icle-1.2428900
In a way this is good and bad.
For instance I have always paid my bills on time and have never been late with rent. However during the recession, things got so bad I was forced to file bankruptcy. (I was still paying on time up until I filed). However I had some brokers tell me I would have a hard time finding an apt anyway, even in cases where I was making 60x the rent.
On the flip side, this opens the doors for deadbeats and people who work the system to get away with murder. As hard as it is to evict a tenant, even a deadbeat one, I can only see this being a headache for landlords. And even proof of income means nothing if that person loses the job and can't find another one right away. I even saw one person draw up a fake offer letter. Unemployment barely covers rent in most places these days.
In the latest of bans to come out of this looney tunes City Council now comes word they want to prevent landlords from running credit checks on prospective tenants. http://www.nydailynews.com/news/poli...icle-1.2428900
In the latest of bans to come out of this looney tunes City Council now comes word they want to prevent landlords from running credit checks on prospective tenants. http://www.nydailynews.com/news/poli...icle-1.2428900
What they really need to do first is make it easier for LLs to evict non-paying tenants. When they accomplish this first, then they may find that LLs will find the need to do fewer credit checks, etc.
The reason for LL's jumping through hoops to make sure tenants are credit-worthy is because they know that they are going to be on the hook for months and months of rent, not to mention paying court fees and lawyer fees, if the tenants end of being deadbeats and they need to evict.
For instance I have always paid my bills on time and have never been late with rent. However during the recession, things got so bad I was forced to file bankruptcy.
Actually the article says that even if this law were to pass, the LL would still be able to check for past bankruptcies.
I like that they check credit scores.
For me personally I don't make a lot but I'm great with managing money and have a credit score of about 820.
So my credit score has got me apartments in the past when my income has not been high enough.
Some persons never file bankruptcy for various reasons but can still be a problem (financially) tenant for a LL.
Yes, I definitely agree. My comment was for Miss J, as she seemed to imply that the LL's would not be able to check for a bankruptcy if the law were to pass.
Yes, I definitely agree. My comment was for Miss J, as she seemed to imply that the LL's would not be able to check for a bankruptcy if the law were to pass.
The city is really playing with fire here. Keeping putting more and more on landlords and eventually you'll see the return of mass housing abandonment.
People think it's impossible, but in marginal neighborhoods not really in the path of gentrification it's definitely a danger. I know many landlords are not really savory types, but you do have to admit many tenants aren't either.
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