Guidance Document regarding Source of Funds:
This guidance document seeks to define rent in a way other than what is listed in the VRLTA and also the way it was presented by Del. Bourne. This guidance document promotes illegal discrimination by requiring that individuals be treated differently based on their source of income. The document demands that one class of "funds' requires wholly separate treatment than others. This document is also incomplete and does not address other types of funds such as gift letters, offer letters, etc.
The purpose for requiring 3x the rent as criteria to qualify is to determine if the applicant can pay all of their other bills such as food, utilities, car payments, medical expenses, etc. in ADDITION to the rent. This is called being financially responsible. You can't keep continuing to put people in worse situations than they are already in by enabling them to make these poor financial decisions.
If this guidance gets passed, then I will feel that we (the housing industry and Americans, in general) were lied to and extremely misled based on how HB6 was originally presented.
Thank you.