06.05.23 TECH: The End Of The Freemium Era / Financial Ed Starts At Home
The Clark Howard Podcast
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The Discriminatory Practice of Guarantors in the Rental Market
Kevin and Rhode Island says my daughter just graduated from college and is interviewing for a job in Manhattan. She and her boyfriend are looking for apartments and they will need a guarantor as she does not yet have a job. I was floored when I was told the guarantor was required to have an income of 80 times the monthly rent. Is this practice discriminatory? Yes, it is discriminatory, Kevin. And it's common in the New York rental market where the average monthly rent on a one bedroom apartment in the city is over $4,000.
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