“Ludicrous” new bill would prevent landlords from checking tenant credit scores

Detailed credit reports would still be allowed

New York /
Nov.November 11, 2015 08:35 AM

The city government may soon make it harder for landlords to screen potential tenants.

Council member Mark Levine introduced a bill that would prevent building owners from using FICO credit scores – as well as information about medical debt, consumer debt judgements and debts sent to collections – in selecting tenants to rent to.

“We don’t want people who have had tough times financially to be blocked out of the housing market. If that happens they’re going to end up in homeless shelters” Levine told the New York Daily News.

He also cited difficulties faced by affordable housing developments in finding qualifying tenants.

The bill would still allow landlords to obtain proof of income, as well as detailed credit reports that include information on total debt owned, bankruptcy and foreclosure history and delinquencies on current debt, the Daily News reported.

Those caveats weren’t enough for the Rent Stabilization Association’s Frank Ricci.

“It’s a ludicrous idea,” he told the Daily News. “An owner has to have some ability to screen a tenant’s ability to pay the rent.”

The bill doesn’t specify a fine for landlords who fail to abide by the proposed rules, but tenants would be able to bring complaints under the city’s human rights law. [NYDN]Ariel Stulberg


Related Articles

arrow_forward_ios
Blackstone CEO Steven Schwartzman and Stuyvesant Town (Credit: Getty Images)
After authorities vowed review of Stuy Town deal, Blackstone changes course on vacancies
After authorities vowed review of Stuy Town deal, Blackstone changes course on vacancies
Real Capital Analytics data showed that New York’s multifamily market had a very slow July. (Credit: iStock)
New NYC rent law “beginning to shut down investment”
New NYC rent law “beginning to shut down investment”
Some landlords say they plan to close the door to vacant apartments and wait for the laws to change (Credit: iStock)
Creative ways NYC landlords are getting around the new rent rules
Creative ways NYC landlords are getting around the new rent rules
CHIP executive director Jay Martin (LinkedIn, iStock / Photo illustration by Priyanka Modi)
Landlords called it: Vacancy rate jumps, rent-stabilization stays
Landlords called it: Vacancy rate jumps, rent-stabilization stays
Tenants and landlords are in a tug-of-war (iStock)
Can tenants have it both ways?
Can tenants have it both ways?
Mitch Kossoff
Disbarred real estate attorney Mitch Kossoff gets 4+ years in prison
Disbarred real estate attorney Mitch Kossoff gets 4+ years in prison
CHIP Executive Director Jay Martin and Gov. Kathy Hochul (LinkedIn, Getty)
Landlords offer to re-open 20K warehoused apartments*
Landlords offer to re-open 20K warehoused apartments*
From left: Senator Chuck Grassley, Global Financial Integrity’s Lakshmi Kumar, Senator Sheldon Whitehouse, and Eagle’s Brook apartments outside Atlanta
Wash, rinse, repeat: How money launderers exploit real estate
Wash, rinse, repeat: How money launderers exploit real estate
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...