White House Announces it is Taking on ‘Junk Fees’ in Rental Housing
The Biden administration announced today that it is taking on so-called “junk fees” in rental housing in order to lower costs for renters. The administration portrays standard industry fees – such as application fees – as junk fees.
NAHB disagrees with the administration’s approach of broadly characterizing standard industry charges as junk fees. In particular, NAHB has engaged the administration to explain why certain fees, such as application fees, are charged. We have previously addressed this issue in comments to the Federal Trade Commission and Consumer Financial Protection Bureau with the respect to the need for tenant screening.
The administration says that various major rental housing platforms such as Zillow, Apartments.com and AffordableHousing.com will be providing more upfront information on various fees charged. While NAHB is supportive of transparency, we will continue to stand up for our members’ rights to effectively manage their apartment communities.