DMAR on Source of Income Discrimination Bill
Denver City Council is considering a bill that would ban landlords/sellers from discriminating against renters/buyers on the basis of income. After careful review, GAC members determined that the current language would not open up a seller to income discrimination if they were to choose a cash offer over traditional, VA or FHA financing.
As you may be aware, Denver City Council is considering a bill that would ban landlords/sellers from discriminating against renters/buyers on the basis of income.
Initially, the bill (which is being brought forward by Councilwoman Robin Kniech) was written to apply solely to rental housing as that’s where a majority of income discrimination cases exist. However, after receiving feedback from brokers and lenders regarding discrimination against buyers with FHA and VA financing, Councilwoman Kniech provided DMAR with advanced warning about the possibility of the ordinance applying to both rental and for-sale.
DMAR staff and Government Affairs Committee members carefully reviewed the bill language and engaged in extensive conversations with Councilwoman Kniech and the City Attorney’s Office to ensure the bill would not negatively impact real estate transactions. After careful review, GAC members determined that the current language would not open up a seller to income discrimination if they were to choose a cash offer over traditional, VA or FHA financing. Nothing in the ordinance prevents the seller’s agent from recommending or the seller from taking an offer that’s in their best interest. Because the ordinance does not mandate a business decision upon the seller or open them up to liability for taking the offer that’s in their best interest, DMAR will be in support of the measure.
"After careful review, GAC members determined that the current language would not open up a seller to income discrimination if they were to choose a cash offer over traditional, VA or FHA financing. Nothing in the ordinance prevents the seller’s agent from recommending or the seller from taking an offer that’s in their best interest. Because the ordinance does not mandate a business decision upon the seller or open them up to liability for taking the offer that’s in their best interest, DMAR will be in support of the measure."
April 2018 marked the 50th anniversary of the 1968 Fair Housing Act. Each year, REALTORS® recognize the significance of this event and reconfirm their commitment to upholding fair housing law, as well as their commitment to offering equal professional service to all in their search for real property. Again, we believe after careful review that the proposed ordinance does not negatively impact a seller and/or seller’s agent and reaffirms the REALTOR® commitment to fair housing for all.
For additional questions, please do not hesitate to contact Peter Wall, DMAR’s Government Affairs director. He can be reached via email at pwall@crlassociates.com
