Property Management
In Louisiana, a property manager who collects rent on behalf of property owners must:
AHold a real estate broker's license or work under one✓ Correct
BOnly hold a general business license
CBe a licensed attorney
DHold a certified public accountant (CPA) license
Explanation
In Louisiana, managing property for others for compensation is a licensed activity requiring a real estate broker's license or employment under a licensed broker.
Related Louisiana Property Management Questions
- Under Louisiana landlord-tenant law, when a residential tenant's lease expires and the tenant remains in possession with the landlord's implied consent, the tenancy becomes:
- A gross lease in commercial property management means:
- The management agreement between a property owner and a property manager should include all of the following EXCEPT:
- A Louisiana apartment complex has 50 units with average monthly rent of $900. The annual gross potential income is:
- The 'vacancy rate' of a Louisiana apartment complex is calculated as:
- An 'operating expense ratio' (OER) for a rental property is calculated as:
- A Louisiana property manager's 'annual operating budget' for a managed property should include:
- Under Louisiana law, the landlord's obligation to maintain common areas in a multi-tenant residential complex includes:
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