Washington State Real Estate CE Course Renewal Requirements - WASHINGTON School ID: S1711
4.0 hours Property Management Course Syllabus
4.0 Elective Hours.
Federal laws that affect how property managers screen prospective tenants include the Fair Credit Reporting Act and USA PATRIOT Act/Executive Order 13244.
Fair Credit Reporting Act: If property managers obtain copies of prospective tenants' credit reports, they must comply with the Fair Credit Reporting Act (FCRA). This law regulates the manner in which credit reporting bureaus gather and use consumers' credit information listed in their credit reports. Its purpose is to protect the privacy of people whose credit is listed in credit reports and improve the information's accuracy.
This law stipulates that a property manager who denies a rental application because of the prospect's credit history must inform the applicant of this decision in writing. The names and addresses of the screening agencies should be included in the letter.
USA PATRIOT Act: The USA PATRIOT Act prohibits property managers from establishing lease agreements with prospective tenants included on the Specially Designated and Blocked Person List (SDN List). The regulation is intended to hinder organizations engaged in terrorism—in part—by making it difficult for them to launder money used to fund their activities.
This course provides information about federal laws essential to conducting property management activities. Screening laws are part of the Fair Reporting Act and USA PATRIOT Act. Upon course completion, you will have the information needed to keep in compliance.