Property Management
A 'resident manager' living at an apartment complex in NC who collects rent and manages the property must hold a real estate license unless:
AThey live in the complex they manage
BThey manage fewer than a specified number of units and are an employee of the owner (not an independent contractor for compensation)✓ Correct
CThey are related to the property owner
DThe complex is under 10 units
Explanation
Under NC license law, a resident manager who is a direct employee of the property owner (not an independent contractor earning a commission) managing the property they live in may qualify for an exemption from the licensing requirement.
Related North Carolina Property Management Questions
- A property management agreement in NC should specify:
- Gross leases in commercial property management mean:
- Under the NC Residential Rental Agreements Act, a landlord who fails to maintain habitable conditions after proper notice may be subject to:
- A NC commercial lease that includes a 'CPI adjustment' (Consumer Price Index) is providing for:
- A 'net lease' requires the tenant to pay:
- Which type of residential lease in NC automatically renews on a month-to-month basis unless proper notice is given?
- Under the NC Vacation Rental Act, if a tenant cancels a vacation rental reservation, the property manager must:
- In NC, a 'leaseback' arrangement occurs when:
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