[RPPTL LandTen] "Risk Mitigation Fee"

[Eric Jacobs]

If it’s in the lease it’s in the lease

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________________________________
From: landten-bounces at lists.flabarrpptl.org <landten-bounces at lists.flabarrpptl.org> on behalf of Leonard Cabral <LensLaw at Lenslaw.com>
Sent: Saturday, October 26, 2019 12:20:39 PM
To: RPPTL Landlord Tenant Committee <landten at lists.flabarrpptl.org>
Subject: Re: [RPPTL LandTen] "Risk Mitigation Fee"

I am now seeing a fee for handling the security deposit. Any thoughts about the legitimately of that fee?

Sent by Leonard P Cabral

On Oct 25, 2019, at 10:59 AM, Harry Heist <harry at evict.com> wrote:



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



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Email: harry at evict.com<mailto:harry at evict.com>

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