Practice & ContractsQuestion 111 of 120
A property manager who collects rents and leases units for owners in California generally must:
a.Be a licensed appraiser
b.Hold a contractor's license
c.Hold a real estate license or work under a licensed broker
d.Register with the IRS only
Explanation
Leasing property and collecting rents for others for compensation are licensed real estate activities in California, so a property manager generally must be a licensee or work under a broker. Resident managers of apartment buildings are a limited exception. Property management agreements should be in writing.
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