MASSIVE public housing scam uncovered in CA [Part 1 of 2]

MASSIVE public housing scam uncovered in CA:

Real estate owners/developers are intentionally keeping subsidized units VACANT! Why? Turns out — it’s much more profitable!

And the kicker — the city (aka the taxpayers) has to pick up the tab. 🧐🤨

LA Housing companies are intentionally leaving low income housing units “available” so they can indefinitely collect the non-refunded application fees hundreds of times per month (However many applicants they get. In LA that number per month could be HUGE for low income housing)

“This unit is renting for $2200 bucks a month (low income), but let's say they're getting five applicants a day.

- That's $45 per applicant
- Let's say there's 28 business days per month
- Multiply that 5 applicants by the $45 application fee, that would be $6,300 a month that we'd be making

And that’s with only 5 applicants per day

“That's almost three times the amount that they would collect if they were to have just rented this unit out. And based on the property history, it looks like this might be happening.”

Let’s say that property gets applied for 25 times a day. Thats $33,750 per month, PER UNIT and there are hundreds+ of these units this could be taking place on