Fair Housing
Under the Fair Housing Act, advertising a rental property with language such as 'ideal for young professionals' may be problematic because it:
AIs only acceptable on social media platforms
BCould imply discrimination based on age or familial status✓ Correct
CViolates RESPA
DIs permitted under the Mrs. Murphy exemption
Explanation
Advertising that targets or implies preference for certain age groups may constitute discrimination against families with children (familial status) or older persons. Fair Housing requires neutral advertising language.
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Key Terms to Know
Capitalization Rate (Cap Rate)
A rate used to estimate the value of income-producing property, calculated as Net Operating Income divided by property value.
Gross Rent Multiplier (GRM)A quick valuation metric for income properties calculated by dividing the property price by gross annual rental income.
Earnest MoneyA deposit made by the buyer when submitting a purchase offer, demonstrating serious intent and serving as consideration for the contract.
ContingencyA condition in a purchase contract that must be satisfied before the sale can proceed to closing.
Math Concepts
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