Reasons for DC Rental Housing and Conversion and Sales Act of 1980 (8)
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1. Preserve health, safety and general welfare
2. discourage the displacement of tenants
3. strengthen bargaining power of tenants without interfering with a
property owner's rights
4. preserve rental housing for low income tenants
5. prevent the elderly from being displaced
6. encourage the formation of tenant groups
7. give owners incentive to continue renting their units to low income
tenants
8. authorize actions consistent with the findings of the law
DCREC term
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3 years
penalties for discriminatory violations are _____ to ______ fines and imprisonment for up to
______ years
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$500; $5,000; 10
Redlining
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members of minority groups are prevented from obtaining money to
purchase homes or property in predominantly white neighborhoods
The ultimate purpose of the DCREC is....
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to protect the public from incompetent and fraudulent practices
option-to-buy contract
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a contract that gives one party the right, but not an obligation, to purchase
a property within a specified time horizon at a specified price
Once a complaint is received...
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it is investigated to determine its merit
brokers are not allowed to use certain names (7)
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1. misleading names
2. a name that implies something that does not exist
3. a name that includes the name of a salesperson
4. a name that violates the law
5. a name used where a license was suspended
6. the name of an unlicensed person
7. a name too similar to another one currently in use
If a complaint is found to have merit.... (2 things)
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, the licensee and his or her broker are notified and a hear date is set
30-day notice is required for: (3 things)
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1. violation of obligation of tenancy
2. tenant convicted of illegal act (s) in the unit
3. month-to-month tenant is delinquent in rent payments
Interest must be paid on escrow funds after _____ days
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90
Do DCREC commissioners receive compensation for their efforts?
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No, but they are reimbursed for expenses
Licenses for brokers expire _________ in ______ years
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1. Preserve health, safety and general welfare
2. discourage the displacement of tenants
3. strengthen bargaining power of tenants without interfering with a
property owner's rights
4. preserve rental housing for low income tenants
5. prevent the elderly from being displaced
6. encourage the formation of tenant groups
7. give owners incentive to continue renting their units to low income
tenants
8. authorize actions consistent with the findings of the law
DCREC term
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3 years
penalties for discriminatory violations are _____ to ______ fines and imprisonment for up to
______ years
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$500; $5,000; 10
Redlining
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members of minority groups are prevented from obtaining money to
purchase homes or property in predominantly white neighborhoods
The ultimate purpose of the DCREC is....
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to protect the public from incompetent and fraudulent practices
option-to-buy contract
,Give this one a try later!
a contract that gives one party the right, but not an obligation, to purchase
a property within a specified time horizon at a specified price
Once a complaint is received...
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it is investigated to determine its merit
brokers are not allowed to use certain names (7)
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1. misleading names
2. a name that implies something that does not exist
3. a name that includes the name of a salesperson
4. a name that violates the law
5. a name used where a license was suspended
6. the name of an unlicensed person
7. a name too similar to another one currently in use
If a complaint is found to have merit.... (2 things)
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, the licensee and his or her broker are notified and a hear date is set
30-day notice is required for: (3 things)
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1. violation of obligation of tenancy
2. tenant convicted of illegal act (s) in the unit
3. month-to-month tenant is delinquent in rent payments
Interest must be paid on escrow funds after _____ days
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90
Do DCREC commissioners receive compensation for their efforts?
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No, but they are reimbursed for expenses
Licenses for brokers expire _________ in ______ years
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