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Updated over 4 years ago,
The new Virginia source of funds discrimination law
As you have likely heard, Virginia now requires all landlord not to discriminate based on source of funds, as of this month. Example is section-8, and what I assume includes money from non-profits. I find this to be an interesting topic, because the law say "source of funds", but it did not say we are required to lose any our of land rights, or modify the lease agreements to accept these funds.
My PMs have been asking me how to handle things, as a lot of nonprofits have been popping up offering to pay tenant rents, but they are inserting their own terms, such as forgive 3 months worth of rents, to receiver 1 or 2 months payments.
Also my PMs are having new tenant applications with source of income from other organizations, that want modified terms to provide the tenant the funds for rent. My current stance is we accept any application that meets credit, criminal, and income qualifications, with no concern on how the money is being paid, but we wont modify our lease terms for said funds.
So I wanted to see what everyone else is doing?