Fair Housing
The Americans with Disabilities Act (ADA) primarily applies to which type of Oklahoma real estate?
APrivate single-family residences
BPlaces of public accommodation and commercial facilities, requiring accessibility for people with disabilities✓ Correct
CAll rental properties regardless of size
DOnly government-owned properties
Explanation
The ADA applies to places of public accommodation (retail stores, offices open to the public, hotels) and commercial facilities. It requires reasonable accessibility.
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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.
Eminent DomainThe power of government to take private property for public use, with the requirement to pay the owner just compensation.
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