Fair Housing
The Fair Housing Act's exemption for 'Mrs. Murphy' applies to:
AAll rental properties in the US
BOwner-occupied buildings with four or fewer rental units
CSingle-family homes sold without a broker
DBoth B and C✓ Correct
Explanation
The 'Mrs. Murphy' exemption allows owner-occupants of buildings with 4 or fewer rental units to discriminate in tenant selection.
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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.
Gross Rent Multiplier (GRM)A quick valuation metric for income properties calculated by dividing the property price by gross annual rental income.
Comparable Sales (Comps)Recently sold properties similar in size, condition, and location used by appraisers and agents to estimate a property's market value.
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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