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. The average American now spends more than a third of their income on housing, a trend driven in part by Wall Street landlords that hike rents, collect fees, and increasingly turn to automated systems to manage their sprawling, nationwide portfolios
✏️ Wall Street investors buy up buildings and become mega landlords, don’t have the staff to manage everything, and outsource things like screening tenants to other companies that use algorithms to automate things.
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They raise rent, add fees, and add these other automations (the screenings) that they then charge the tenant to pay for as well.
Tenants with “low scores” have to pay greater deposits. Naturally, it’s up to these companies to decide what denotes a low score, and how the data is gathered.
Profit is, as always, number one in any decision made.
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