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New Law Could Save Renters Some Money In Search For New Place
A new California law allows for reusable credit checks
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iStockphoto
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Topline:
A new law signed by the Governor allows renters to buy a uniform credit report they can resubmit to multiple landlords to save the sometimes burdensome expense.
What it's addressing: Apply for a few rental units these days and you're easily out a couple hundred bucks in credit application fees.
Is it mandatory? No. Accepting a reusable tenant screening is voluntary. Owners can still opt to require their own preferred method, fee included.
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How do landlords feel? Dan Yukelson leads the Apartment Association of Greater Los Angeles and says some landlords are worried about getting fooled by fake information such as pay stubs and bank statements.
"All that stuff is available on the internet and owners are getting burned when they're trying to screen tenants and they're getting these false documents."
Important note: Under the law, reusable reports can be provided through a third-party website that already conducts lawful tenant screenings.
Read the bill: AB 2559 (signed by Gov. Newsom on Tuesday, Sept. 13)
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