Seattle renters commission proposes ban on credit checks in rental applications
Goto page 1, 2, 3  Next
 
Post new topic    LakersGround.net Forum Index -> Off Topic Reply to topic
View previous topic :: View next topic  
Author Message
C M B
Franchise Player
Franchise Player


Joined: 15 Nov 2006
Posts: 19853
Location: Prarie & Manchester, high above the western sideline

PostPosted: Wed Feb 10, 2021 12:21 am    Post subject: Seattle renters commission proposes ban on credit checks in rental applications

http://www.seattle.gov/Documents/Departments/Neighborhoods/Shared/SeattleRentersCommission/SRC_Letter_Credit-Check.pdf
_________________
http://chickhearn.ytmnd.com/

Sister Golden Hair wrote:
LAMAR ODOM is an anagram for ... DOOM ALARM
Back to top
View user's profile Send private message Visit poster's website Reply with quote
Omar Little
Moderator
Moderator


Joined: 02 May 2005
Posts: 90299
Location: Formerly Known As 24

PostPosted: Thu Feb 11, 2021 11:42 am    Post subject:

Good decision. Credit scores have never really adequately gauged whether someone pays their rent (references work much better), and often, intentionally or not, is very discriminatory in practice.
_________________
“We must always take sides. Neutrality helps the oppressor, never the victim. Silence encourages the tormentor, never the tormented.” ― Elie Wiesel
Back to top
View user's profile Send private message Reply with quote
Great One
Star Player
Star Player


Joined: 24 Jun 2005
Posts: 3166
Location: Girl I'm Back in Spanish Town

PostPosted: Thu Feb 11, 2021 12:37 pm    Post subject:

this could backfire and lead to harsher discrimination
_________________
"Nobody hates the good ones. They hate the great ones." - KB
Back to top
View user's profile Send private message Reply with quote
Omar Little
Moderator
Moderator


Joined: 02 May 2005
Posts: 90299
Location: Formerly Known As 24

PostPosted: Thu Feb 11, 2021 1:19 pm    Post subject:

Great One wrote:
this could backfire and lead to harsher discrimination


That’s what they say about any reduction in discrimination. Or raising the minimum wage, etc.
_________________
“We must always take sides. Neutrality helps the oppressor, never the victim. Silence encourages the tormentor, never the tormented.” ― Elie Wiesel
Back to top
View user's profile Send private message Reply with quote
DaMuleRules
Retired Number
Retired Number


Joined: 10 Dec 2006
Posts: 52624
Location: Making a safety stop at 15 feet.

PostPosted: Thu Feb 11, 2021 2:49 pm    Post subject:

Credit checks have only existed since 1989 and come with the inherent flaw that you have to build a credit history in order to get credit. It forces a situation that puts people at a disadvantage at the start.
_________________
You thought God was an architect, now you know
He’s something like a pipe bomb ready to blow
And everything you built that’s all for show
goes up in flames
In 24 frames


Jason Isbell

Man, do those lyrics resonate right now
Back to top
View user's profile Send private message Reply with quote
jonnybravo
Retired Number
Retired Number


Joined: 21 Sep 2007
Posts: 30619

PostPosted: Thu Feb 11, 2021 2:59 pm    Post subject:

DaMuleRules wrote:
Credit checks have only existed since 1989 and come with the inherent flaw that you have to build a credit history in order to get credit. It forces a situation that puts people at a disadvantage at the start.


Really? What did they use before that?
_________________
KOBE
Back to top
View user's profile Send private message Reply with quote
DaMuleRules
Retired Number
Retired Number


Joined: 10 Dec 2006
Posts: 52624
Location: Making a safety stop at 15 feet.

PostPosted: Thu Feb 11, 2021 3:09 pm    Post subject:

jonnybravo wrote:
DaMuleRules wrote:
Credit checks have only existed since 1989 and come with the inherent flaw that you have to build a credit history in order to get credit. It forces a situation that puts people at a disadvantage at the start.


Really? What did they use before that?


References, previous landlords.
_________________
You thought God was an architect, now you know
He’s something like a pipe bomb ready to blow
And everything you built that’s all for show
goes up in flames
In 24 frames


Jason Isbell

Man, do those lyrics resonate right now
Back to top
View user's profile Send private message Reply with quote
Omar Little
Moderator
Moderator


Joined: 02 May 2005
Posts: 90299
Location: Formerly Known As 24

PostPosted: Fri Feb 12, 2021 12:19 am    Post subject:

DaMuleRules wrote:
Credit checks have only existed since 1989 and come with the inherent flaw that you have to build a credit history in order to get credit. It forces a situation that puts people at a disadvantage at the start.


Not to mention that rent is one thing that doesn’t actually show up on a credit report.
_________________
“We must always take sides. Neutrality helps the oppressor, never the victim. Silence encourages the tormentor, never the tormented.” ― Elie Wiesel
Back to top
View user's profile Send private message Reply with quote
jonnybravo
Retired Number
Retired Number


Joined: 21 Sep 2007
Posts: 30619

PostPosted: Fri Feb 12, 2021 12:23 am    Post subject:

It's embarrassing that as a former loan officer I don't know this but how were mortgages and auto loans done back then?
_________________
KOBE
Back to top
View user's profile Send private message Reply with quote
Omar Little
Moderator
Moderator


Joined: 02 May 2005
Posts: 90299
Location: Formerly Known As 24

PostPosted: Fri Feb 12, 2021 12:32 am    Post subject:

Believe it or not, references, financial records (paper), and often a home visit.
_________________
“We must always take sides. Neutrality helps the oppressor, never the victim. Silence encourages the tormentor, never the tormented.” ― Elie Wiesel
Back to top
View user's profile Send private message Reply with quote
Omar Little
Moderator
Moderator


Joined: 02 May 2005
Posts: 90299
Location: Formerly Known As 24

PostPosted: Fri Feb 12, 2021 12:33 am    Post subject:

To be fair, there was credit reporting and even scores before 89, that’s just when it became standardized as a FICO score.
_________________
“We must always take sides. Neutrality helps the oppressor, never the victim. Silence encourages the tormentor, never the tormented.” ― Elie Wiesel
Back to top
View user's profile Send private message Reply with quote
DuncanIdaho
Franchise Player
Franchise Player


Joined: 26 Apr 2004
Posts: 17197
Location: In a no-ship

PostPosted: Fri Feb 12, 2021 10:02 am    Post subject:

Omar Little wrote:
Believe it or not, references, financial records (paper), and often a home visit.


Seems like an easier way to discriminate against someone.
Back to top
View user's profile Send private message Reply with quote
Omar Little
Moderator
Moderator


Joined: 02 May 2005
Posts: 90299
Location: Formerly Known As 24

PostPosted: Fri Feb 12, 2021 11:33 am    Post subject:

DuncanIdaho wrote:
Omar Little wrote:
Believe it or not, references, financial records (paper), and often a home visit.


Seems like an easier way to discriminate against someone.


Not really, since you can still discriminate on personal reasons after they make it through the automated segregator.
_________________
“We must always take sides. Neutrality helps the oppressor, never the victim. Silence encourages the tormentor, never the tormented.” ― Elie Wiesel
Back to top
View user's profile Send private message Reply with quote
Omar Little
Moderator
Moderator


Joined: 02 May 2005
Posts: 90299
Location: Formerly Known As 24

PostPosted: Fri Feb 12, 2021 11:42 am    Post subject:

I’m curious what, if any arguments people who are questioning this might have to support using credit scores for rentals.
_________________
“We must always take sides. Neutrality helps the oppressor, never the victim. Silence encourages the tormentor, never the tormented.” ― Elie Wiesel
Back to top
View user's profile Send private message Reply with quote
jodeke
Retired Number
Retired Number


Joined: 17 Nov 2007
Posts: 67314
Location: In a world where admitting to not knowing something is considered a great way to learn.

PostPosted: Fri Feb 12, 2021 12:14 pm    Post subject:

If I were a property for rent owner I'd want to know if the person applying paid their bills on time. Owners have mortgages.
_________________
Be who you are and say what you feel because those who mind don't matter and those who matter don't mind.

America will never be destroyed from the outside. If we falter and lose our freedoms, it will be because we destroyed ourselves.
Back to top
View user's profile Send private message Reply with quote
DuncanIdaho
Franchise Player
Franchise Player


Joined: 26 Apr 2004
Posts: 17197
Location: In a no-ship

PostPosted: Fri Feb 12, 2021 12:20 pm    Post subject:

My first thought goes back to the days before credit checks when if you weren't in the right church, part of the right race or knew the right people you had a problem. Or if you were a woman, if you didn't have the support of a male family member. This isn't ancient history, this is like the 70's. Things obviously won't go back to that, but I feel like this would make rentals more about who you know because landlords just won't list places for rent or will skirt the line on what requirements they can legally require.

I did a quick bit of looking around and found this on a realestate investing subreddit:

Quote:
Just because I live in Seattle I have my opinions on this. I do not rent in the city of Seattle.

With that out of the way. Who really cares? Landlords in the city of Seattle:

Already are limited to 1 month security deposit
That deposit and last month can be financed over 6 months
Must follow First In Line on screening criteria
Cannot Discriminate on source of income
Must take the "mobile screening application"
Have to register their rentals with Seattle Department of Construction and Inspections (purposefully not Inspections and Construction)

Why does this make it harder to be a Landlord in Seattle? It doesn't all it will do is increase the rent that a Landlord is going to need to offset those. If you want to play it smart renting in Seattle, you change your income requirements to 4x the rents.

The Hud Voucher Limit on Section 8 in the Seattle MSA is currently $1529. [source] A 5 Second search of zillow shows multiple 1 bedrooms renting at $1600-$1700/mo.

The price movement to $2000/mo will be swift. (Well, as soon as we can raise rents) and may go higher since we also have to help cover move-out and moving costs if there is non-renewal of rents. I wouldn't be surprised to see 1 bedrooms going for $2300 in Seattle by 2022.


So I'm not sure what this will accomplish other than lowering availability and raising prices.

Also from what I'm reading apparently many landlords don't do credit checks so this probably won't have too much of an effect as to who's able to get a rental.. they just might cost more.

I'm firmly in the "meh" camp on this one. If it helps some people, I guess that's fine, but it may have tradeoffs.
Back to top
View user's profile Send private message Reply with quote
DuncanIdaho
Franchise Player
Franchise Player


Joined: 26 Apr 2004
Posts: 17197
Location: In a no-ship

PostPosted: Fri Feb 12, 2021 12:33 pm    Post subject:

This may also lead to smaller landlords being unable to compete with large corporations, but that may be by design too.
Back to top
View user's profile Send private message Reply with quote
kikanga
Retired Number
Retired Number


Joined: 15 Sep 2012
Posts: 29150
Location: La La Land

PostPosted: Fri Feb 12, 2021 12:34 pm    Post subject:

Quote:
savvy☭@sleepisocialist· Feb 11
I'm absolutely losing my mind that credit scores weren't established in the US until 1989. We really are the guinea pig generations for all the bad boomer ideas

https://twitter.com/sleepisocialist/status/1359914404062646275
_________________
"Every hurt is a lesson, and every lesson makes you better”
Back to top
View user's profile Send private message Reply with quote
DuncanIdaho
Franchise Player
Franchise Player


Joined: 26 Apr 2004
Posts: 17197
Location: In a no-ship

PostPosted: Fri Feb 12, 2021 12:36 pm    Post subject:

kikanga wrote:
Quote:
savvy☭@sleepisocialist· Feb 11
I'm absolutely losing my mind that credit scores weren't established in the US until 1989. We really are the guinea pig generations for all the bad boomer ideas

https://twitter.com/sleepisocialist/status/1359914404062646275


Said person who made the tweet would have likely had to receive a male relative's help securing a loan before. Like many things, the 50's-70's weren't all rainbows and sunshine. Well, it was if you were a white guy and the main criteria for getting a loan was "character references".
Back to top
View user's profile Send private message Reply with quote
Omar Little
Moderator
Moderator


Joined: 02 May 2005
Posts: 90299
Location: Formerly Known As 24

PostPosted: Fri Feb 12, 2021 1:31 pm    Post subject:

jodeke wrote:
If I were a property for rent owner I'd want to know if the person applying paid their bills on time. Owners have mortgages.


Except nothing on a credit report indicates whether someone will pay their rent. In fact, people will usually default on the things that show up on a credit report first in order to pay rent, utilities, and buy food. Plus, you can access previous landlords and get an exact answer to your question.
_________________
“We must always take sides. Neutrality helps the oppressor, never the victim. Silence encourages the tormentor, never the tormented.” ― Elie Wiesel
Back to top
View user's profile Send private message Reply with quote
Omar Little
Moderator
Moderator


Joined: 02 May 2005
Posts: 90299
Location: Formerly Known As 24

PostPosted: Fri Feb 12, 2021 1:33 pm    Post subject:

DuncanIdaho wrote:
kikanga wrote:
Quote:
savvy☭@sleepisocialist· Feb 11
I'm absolutely losing my mind that credit scores weren't established in the US until 1989. We really are the guinea pig generations for all the bad boomer ideas

https://twitter.com/sleepisocialist/status/1359914404062646275


Said person who made the tweet would have likely had to receive a male relative's help securing a loan before. Like many things, the 50's-70's weren't all rainbows and sunshine. Well, it was if you were a white guy and the main criteria for getting a loan was "character references".


True, but now, if you’re poor and/or a minority, you need even more than that to get onerous, high interest debt to even cross the threshold of beginning to get a credit score. So rather than make credit more equal, it’s just another gate.
_________________
“We must always take sides. Neutrality helps the oppressor, never the victim. Silence encourages the tormentor, never the tormented.” ― Elie Wiesel
Back to top
View user's profile Send private message Reply with quote
Omar Little
Moderator
Moderator


Joined: 02 May 2005
Posts: 90299
Location: Formerly Known As 24

PostPosted: Fri Feb 12, 2021 1:37 pm    Post subject:

Fwiw, anyone who tells you not allowing credit scores (but allowing income verification and rental history screening) will increase rents is just scaremongering. Aside from the fact that defaults won’t be statistically that much higher if at all, rents aren’t based on these type of cost criteria. They are market based, on demand.
_________________
“We must always take sides. Neutrality helps the oppressor, never the victim. Silence encourages the tormentor, never the tormented.” ― Elie Wiesel
Back to top
View user's profile Send private message Reply with quote
jodeke
Retired Number
Retired Number


Joined: 17 Nov 2007
Posts: 67314
Location: In a world where admitting to not knowing something is considered a great way to learn.

PostPosted: Fri Feb 12, 2021 1:39 pm    Post subject:

Omar Little wrote:
jodeke wrote:
If I were a property for rent owner I'd want to know if the person applying paid their bills on time. Owners have mortgages.


Except nothing on a credit report indicates whether someone will pay their rent. In fact, people will usually default on the things that show up on a credit report first in order to pay rent, utilities, and buy food. Plus, you can access previous landlords and get an exact answer to your question.

This is in a credit report. The gist of the post is in bold blue.
_________________
Be who you are and say what you feel because those who mind don't matter and those who matter don't mind.

America will never be destroyed from the outside. If we falter and lose our freedoms, it will be because we destroyed ourselves.
Back to top
View user's profile Send private message Reply with quote
Omar Little
Moderator
Moderator


Joined: 02 May 2005
Posts: 90299
Location: Formerly Known As 24

PostPosted: Fri Feb 12, 2021 1:41 pm    Post subject:

jodeke wrote:
Omar Little wrote:
jodeke wrote:
If I were a property for rent owner I'd want to know if the person applying paid their bills on time. Owners have mortgages.


Except nothing on a credit report indicates whether someone will pay their rent. In fact, people will usually default on the things that show up on a credit report first in order to pay rent, utilities, and buy food. Plus, you can access previous landlords and get an exact answer to your question.

This is in a credit report. The gist of the post is in bold blue.


No it’s actually not. Many people with horrible credit pay their rent on time (and that almost never gets reported to the credit agencies), and many renters have no credit score. Multiple studies have shown very little link between credit score and rent payment.
_________________
“We must always take sides. Neutrality helps the oppressor, never the victim. Silence encourages the tormentor, never the tormented.” ― Elie Wiesel
Back to top
View user's profile Send private message Reply with quote
kikanga
Retired Number
Retired Number


Joined: 15 Sep 2012
Posts: 29150
Location: La La Land

PostPosted: Fri Feb 12, 2021 1:47 pm    Post subject:

Omar Little wrote:
DuncanIdaho wrote:
kikanga wrote:
Quote:
savvy☭@sleepisocialist· Feb 11
I'm absolutely losing my mind that credit scores weren't established in the US until 1989. We really are the guinea pig generations for all the bad boomer ideas

https://twitter.com/sleepisocialist/status/1359914404062646275


Said person who made the tweet would have likely had to receive a male relative's help securing a loan before. Like many things, the 50's-70's weren't all rainbows and sunshine. Well, it was if you were a white guy and the main criteria for getting a loan was "character references".


True, but now, if you’re poor and/or a minority, you need even more than that to get onerous, high interest debt to even cross the threshold of beginning to get a credit score. So rather than make credit more equal, it’s just another gate.


Yep.

Unaffordable and discriminatory housing is a symptom of a greater systemic illness in our country.
_________________
"Every hurt is a lesson, and every lesson makes you better”
Back to top
View user's profile Send private message Reply with quote
Display posts from previous:   
Post new topic    LakersGround.net Forum Index -> Off Topic All times are GMT - 8 Hours
Goto page 1, 2, 3  Next
Page 1 of 3
Jump to:  

 
You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot vote in polls in this forum






Graphics by uberzev
© 1995-2018 LakersGround.net. All Rights Reserved. Privacy Policy. Terms of Use.
LakersGround is an unofficial news source serving the fan community since 1995.
We are in no way associated with the Los Angeles Lakers or the National Basketball Association.


Powered by phpBB