Property Management
In Wyoming, a property manager should screen prospective tenants using criteria that are:
ABased solely on the manager's personal judgment
BObjective, consistently applied, and based on legitimate financial and rental history factors✓ Correct
CDifferent for each applicant based on appearance
DBased on neighborhood preferences
Explanation
Consistent, objective screening criteria (credit score, income requirements, rental history, references) must be applied equally to all applicants. Subjective criteria or inconsistent application can create fair housing liability.
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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.
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.
Purchase AgreementA legally binding contract between a buyer and seller that outlines the terms and conditions of a real estate sale.
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