Ohio License Law
Under Ohio license law, a licensee may perform which of the following without obtaining a real estate license?
ANegotiate a commercial lease for a fee
BAuction real property for compensation
CAct as a resident manager of an apartment complex owned by the employer✓ Correct
DManage residential rentals for multiple owners for a fee
Explanation
A resident manager who is employed by and manages the property of their employer (the property owner) may be exempt from licensing requirements as a bona fide employee, not acting as a broker for others.
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Key Terms to Know
Joint Tenancy
Co-ownership where two or more people hold equal, undivided interests with the right of survivorship — when one owner dies, their share passes to the surviving owners.
Eminent DomainThe power of government to take private property for public use, with the requirement to pay the owner just compensation.
State-Specific Concepts
License Law
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