Property Management
In Minnesota, which of the following activities requires a real estate broker's license for a property management company?
AMaintaining a building owned by the management company itself
BListing and leasing units in a third-party owner's residential building for a fee✓ Correct
CManaging utilities for a commercial property the company owns
DPerforming maintenance on company-owned properties
Explanation
Acting as a property manager for a third-party owner's property for compensation—including marketing vacancies, showing units, negotiating leases, and collecting rent—requires a real estate broker's license in Minnesota. Managing one's own properties does not require a license.
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