HALF OF ATLANTA APARTMENT RENTAL APPLICATIONS ARE FRAUD

[phcitywarrior]

Good post OP. I actually read the article on WSJ before I left work. The “luxury” apartment market needs a reset, repricing has to be coming soon.

I never understood the point of lying about your income. If you can’t afford it, you can’t afford it. Do these ppl think that those “apartment leasing packages” will magically resolve their income problem?

I think it’s two parts to this but folks from ATL chime in.

For 1, there are people that could afford the rent but don’t have the credit history to pass the initial screens.

For 2, scammers tryna game the system

 

[CopiousX]

Good post OP. I actually read the article on WSJ before I left work. The “luxury” apartment market needs a reset, repricing has to be coming soon.



I think it’s two parts to this but folks from ATL chime in.

For 1, there are people that could afford the rent but don’t have the credit history to pass the initial screens.

For 2, scammers tryna game the system

It seems like a regulatory issue to me. If they could shorten the eviction time to two weeks , Then the credit requirements wouldnt need to be so stringent.

If a new applicant defaults after a month, then their deposit should cover the 2week eviction window and the 2week search for a new tenant.


Sometimes excess regulation harms the consumer. I think most people would also accept a 0.5% tax increase to support the necessary court staffing for a solely eviction focused court. It would streamline the market , while cutting out the scammers

 

[KFBF]

 

[AAKing23]

You don’t say

 

[trapnerd]

The corporate landlords knew what was up when they approved the fraudulent applications in the first place.

They needed people in units to please their shareholders and / or bring in new investors. Don’t matter if they were getting paid or not, they just needed the illusion of brining in money.

 

[WIA20XX]

I never understood the point of lying about your income. If you can’t afford it, you can’t afford it. Do these ppl think that those “apartment leasing packages” will magically resolve their income problem?

In some places, it might take 6 months to evict them. At one point in DC, it was 36 months/3 years.

 

[Creflo ½ Dollar]

It seems like a regulatory issue to me. If they could shorten the eviction time to two weeks , Then the credit requirements wouldnt need to be so stringent.

If a new applicant defaults after a month, then their deposit should cover the 2week eviction window and the 2week search for a new tenant.


Sometimes excess regulation harms the consumer. I think most people would also accept a 0.5% tax increase to support the necessary court staffing for a solely eviction focused court. It would streamline the market , while cutting out the scammers

Yea u do got a alot of scammers but most are regular people who just want to stay somewhere decent without the crime and nice location. You not telling people that most people are scamming enough to pay 2k plus rent in Atlanta. It’s not that many scammers around. A lot of people just scam the application process to get approved then pay rent regular.

So I agree with u it’s excess regulation that lead to this.

 

[Creflo ½ Dollar]

Good post OP. I actually read the article on WSJ before I left work. The “luxury” apartment market needs a reset, repricing has to be coming soon.



I think it’s two parts to this but folks from ATL chime in.

For 1, there are people that could afford the rent but don’t have the credit history to pass the initial screens.

For 2, scammers tryna game the system

This is it..part 1 correct 1000% u do have scammers but u not telling me you got that many scammers in ATL who can make a living off scamming to afford a luxury apartment.

 

[Slim]

If it’s these corporate landlords, developers and investors…



to the scammers conning the freeloaders.

 

[Dorian Breh]

If it’s these corporate landlords, developers and investors…



to the scammers conning the freeloaders.

Facts

Scammers helping people find places to live

Rent seeking investment firms pricing them out

Scammers

 

[10bandz]

DTLA is the same way

 

[Double Burger With Cheese]

Good post OP. I actually read the article on WSJ before I left work. The “luxury” apartment market needs a reset, repricing has to be coming soon.



I think it’s two parts to this but folks from ATL chime in.

For 1, there are people that could afford the rent but don’t have the credit history to pass the initial screens.

For 2, scammers tryna game the system

These apartments have made the application requirements harder to where regular working folks have to finesse they way into apartments.

A lot of leasing offices corrupt and work with scammers who get folks apartments.

It’s a lot of trappers out here who can afford these apartments and don’t want these spots in their name so they go through a scammer.

 

[phcitywarrior]

In some places, it might take 6 months to evict them. At one point in DC, it was 36 months/3 years.

Yep. Cities like DC, NYC, LA got some serious tenant protections.

We had folks in our spot in Maryland that paid the first month’s rent and that was it. Took 15 months to evict em but the entire time we had to still cover the mortgage.

These apartments have made the application requirements harder to where regular working folks have to finesse they way into apartments.

Yep. There are people that can afford it but the requirements to get in are arduous.

It’s a lot of trappers out here who can afford these apartments and don’t want these spots in their name so they go through a scammer.

I figured this was part of it, too.

 

[Electric Relaxation]

Watched this last week. Living like this gotta be crazy.

 

[bnew]