Fair Housing
Under the Fair Housing Act, a Montana apartment complex that requires a minimum income of 3.5 times monthly rent:
AViolates fair housing as income requirements are prohibited
BIs generally a permissible, objective, non-discriminatory financial qualification standard when applied consistently✓ Correct
CMay only be applied to new applicants, not renewals
DViolates the Montana Human Rights Act's source of income protections
Explanation
Income-to-rent ratio requirements (e.g.
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Key Terms to Know
Fair Housing Act
Federal law prohibiting discrimination in the sale, rental, or financing of housing based on race, color, national origin, religion, sex, disability, and familial status.
Debt-to-Income Ratio (DTI)A lender's measure of a borrower's monthly debt obligations relative to their gross monthly income, used to evaluate loan eligibility.
Gross Rent Multiplier (GRM)A quick valuation metric for income properties calculated by dividing the property price by gross annual rental income.
SteeringAn illegal practice where a real estate agent directs buyers toward or away from certain neighborhoods based on the buyer's race, religion, national origin, or other protected characteristics.
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