Tuesday, December 6, 2011
. . . landlords can get away with charging a $40 application fee to anyone interested in renting an apartment. In San Francisco, a very tight rental market has allowed landlords to milk thousands of dollars from desperate prospective tenants:
At a “nice” $3,500-per-month loft in the Mission, “80 people showed up for the open house,” said Ms. Lamas, 23, who recently began working at a tech company in SoMa. “And the landlord said to me that he’d gotten 250 applications.” The cost of applying was $40, so if the landlord wasn’t exaggerating, he grossed $10,000 in application fees.