The Biden administration is exposing so-called junk fees in the housing rental industry in an effort to make the actual cost of housing more transparent to consumers.
President Joe Biden announced the initiative on July 19 at a meeting of the White House Competition Council, an inter-agency task force formed in 2021 to combat unfair competition in certain industries and lower prices for consumers.
The initiative includes commitments from major real estate sites to provide complete fee information with each listing and legislative remedies being pursued by several states.
“We’re cracking down on hidden junk fees in rental housing,” Mr. Biden said. “Folks at home are having to pay $100 or more just to fill out a rental application, even though the credit check can cost as little as $20.”…