California startup lets you finance your rent with high-interest loans

That there is a market for this suggests the value of creating a postal banking system.

Isn't this how 2008 happened? Needing to have cash for a security deposit or down payment is a gate designed to reduce risk. Allowing people to take out these loans introduces risks for the landlords. If this catches on landlords are going to start having to do multiple credit checks, once when you apply and another on the day you sign or very close to it, just like they do for mortgages.

Every huckster maintains they have their mark's best interests at heart. Some may even believe it. That doesn't make these any less predatory.

between payday loans and missing rent i sincerely believe people deserve to miss rent. /s

i don't think there is a way of avoiding this situation short of some kind of wealth transfer program. certainly not within the reach of a for-profit or a self-sustaining zero-profit enterprise.

If you think this is predatory, what about the even higher late fees imposed by landlords?

27 percent sounds like a lot but it is about 2 percent per month. On a $1000 rent, that's $20. Late fees are much higher than that.