Property Management
In New Mexico, a property manager may NOT legally manage properties in which of the following situations?
AWhen managing properties for multiple owners
BWithout an active New Mexico real estate broker's license (or working under one)✓ Correct
CWhen managing residential and commercial properties simultaneously
DWhen the management agreement has a 12-month term
Explanation
Property management for compensation requires an active New Mexico real estate broker license (or operating under the supervision of a qualifying broker). Managing without a license is a violation of NMSA §61-29.
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