this post was submitted on 31 Oct 2024
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Housing Bubble 2: Return of the Ugly
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Looks like they are charging the cost of credit card processing fees.
Yeah I’m surprised they allow the em to pay rent via credit card. Since that reduces the amount the landlord gets, it seems fair that it would charge a fee to cover that difference.
I wonder if the fee goes away if a checking account is used.
I used to live in a condo and the management company charged a fee if I used ACH from a checking account but nothing if I mailed in a check. My bank would mail checks for free so I did that. It seemed much less convenient for them to have to open and cash all those checks but that wasn't my problem.
I do this for our water company, it’s like $3 to pay it online via any method, but free for my bank to print a check and mail it to their office. I’m sure it costs more than that $3 to open the check, deposit it, and credit my account for it.
I still do this for places that charge fees for credit cards. My credit union calls it "Bill Pay". It is free so long as I do some small number of transactions per month -- I think four.
Now that’s some bullshit! A few for ACH should be illegal!
My man, the amount the landlord is charging rent is entirely arbitrary outside of being 'as high as they can get away with'. Don't make excuses for a landlord swindling you out of your money by making that amount seem more palatable by shuffling bits of it behind "fees."
Almost $1700 a month in base rent, the landlord can pay the damn fee for their own convenience in not having to cash a check.
While I agree on rent being too damn high, I think I draw the line as follows.
If you agreed to pay X and there are mandatory fees on top of that, that’s bullshit that should be illegal.
If you agreed to pay X and you want to use a method of payment that will make the other party receive less than X… that’s on you.
It feels a lot like… if someone agrees to pay me X and decides to pay me less than X… that’s some bullshit.