Property Management
An Oklahoma property manager who handles residential rentals must be aware that the Fair Credit Reporting Act (FCRA) requires them to:
AShare credit reports freely with all interested parties
BFollow adverse action notice requirements when denying an application based on credit information, and properly dispose of consumer reports✓ Correct
CUse only Oklahoma-licensed credit bureaus
DShare credit reports with all prospective tenants
Explanation
The FCRA requires property managers who deny tenants based on credit reports to provide adverse action notices (informing the applicant of the denial reason and their right to get a free copy of their report). Consumer reports must also be securely disposed of.
Related Oklahoma Property Management Questions
- An Oklahoma property manager overseeing a Section 42 Low-Income Housing Tax Credit (LIHTC) property must ensure:
- A net lease requires the tenant to pay:
- Effective gross income (EGI) for a rental property is calculated as:
- A property manager who mixes owner funds with personal funds is guilty of:
- A property management company in Oklahoma that also has a maintenance crew should:
- A property manager in Oklahoma who manages properties on behalf of others for compensation must have:
- The Americans with Disabilities Act (ADA) applies to which Oklahoma properties?
- Under Oklahoma law, a landlord may NOT refuse to rent to a person based on their:
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