On occasion I hear tenants say their landlord avoids raising rent or evicting them because they’ve been good tenants and the landlord doesn’t want to take a risk with someone new. Suggesting at least part of the reason why rents are high is due to the Market for Lemons problem.
On other occasions I see flyers for something called a “tenants’ union” which, as far as I can tell, only exists to complain, lobby for rent control and help people take slumlords to court.
I propose that a REAL tenants’ union would function as some kind of cross between Zillow and RateMyProfessor. Tenants provide their rental history/proof of income to the union and receive a standardized application package they can send to any landlord. Landlords outsource the tenant screening process to a centralized business with an interest in preserving their rep. And if anyone using the service trashes the apartment, half-asses a critical repair or evicts someone without reason? Boom. Blacklisted.
Now tell me why this doesn’t already exist or whether I’ve just dreamed up a new kind of capitalist hell.
