[RPPTL LandTen] "Risk Mitigation Fee"

[Harry Heist]

It seems like each day property managers are coming up with fees that I
believe will eventually cause a problem and be class action material. 

 

They are spreading as these managers are on all of these Facebook groups,
someone says they are doing it and then everyone thinks it is OK.

 

The latest one I have been seeing is a "Risk Mitigation Fee".

 

This is a nonrefundable fee that the higher risk tenant (bad credit,
bankruptcy, eviction etc) is being asked to pay as part of being approved.

 

Often this "fee" is being kept by the property manager, split with the owner
or given to the owner.  More often than not, kept by the property manager.

 

Does anyone have any info on the legality of this?

 

In the money lending world, creditors are free to charge a higher interest
rate to a higher risk person but this now????

 

Harry

 

LAW OFFICES OF 
HEIST, WEISSE & WOLK P.A.
PH: 1 800 253 8428
FAX: 1 800 367 9038
"Serving the Property Management Professional"
Website:   <http://www.evict.com/> www.evict.com 
Email:  <mailto:harry at evict.com> harry at evict.com



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