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Updated about 3 years ago,
Understanding the new Section 8 requirements for landlords?
According to the new law passed for Colorado effective Jan 2021 pasted below...
HB20-1332
Prohibit Housing Discrimination Source Of IncomeThe act adds discrimination based on source of income as a type of unfair housing practice. "Source of income" is defined to include any source of money paid directly, indirectly, or on behalf of a person, including income from any lawful profession or from any government or private assistance, grant, or loan program.
A person is prohibited from refusing to rent, lease, show for rent or lease, or transmit an offer to rent or lease housing based on a person's source of income. In addition, a person cannot discriminate in the terms or conditions of a rental agreement against another person based on source of income, or based upon the person's participation in a 3rd-party contract required as a condition of receiving public housing assistance. A person cannot include in any advertisement for the rent or lease of housing any limitation or preference based on source of income, or to use representations related to a person's source of income to induce another person to rent or lease property. The restrictions do not apply to a landlord with 3 or fewer rental units. A landlord who owns 5 or fewer single family rental homes, and no more than 5 total rental units including any single family rental homes, is not required to accept federal housing choice vouchers for the single family homes.
A landlord is not prohibited from checking the credit of prospective tenant. Checking the credit of a prospective tenant is not an unfair housing practice if the landlord checks the credit of every prospective tenant.
I'm confused on how the wording is to be interpreted for "The restrictions do not apply to a landlord with 3 or fewer rental units. A landlord who owns 5 or fewer single family rental homes, and no more than 5 total rental units including any single family rental homes, is not required to accept federal housing choice vouchers for the single family homes."
In investment circles, we differentiate between "Single family homes" and condos and townhomes. Is this law differentiating between them?
Clearly, if you own 3 or fewer rental units of any sort you are exempt, but what if you own 4 townhomes or 4 condos?