Property Management
A property manager in Rhode Island who handles leasing activities for third parties without a real estate license is:
AExempt if they manage fewer than 10 units
BExempt if the property is residential
CViolating Rhode Island license law✓ Correct
DPermitted if they have a business license from the city
Explanation
A property manager who negotiates leases or performs other real estate activities for compensation on behalf of another person must hold a Rhode Island real estate license. Operating without one violates RIGL Chapter 5-20.
People Also Study
Related Rhode Island Questions
- Under Rhode Island General Laws Chapter 5-20.5, which of the following must obtain a real estate broker's license?Rhode Island License Law
- What is the primary purpose of Rhode Island's real estate licensing law under RIGL Chapter 5-20.5?Rhode Island License Law
- Under RIGL Chapter 5-20.5, how many hours of pre-license education must a salesperson candidate complete before sitting for the Rhode Island real estate exam?Rhode Island License Law
- Under RIGL Chapter 5-20.5, which of the following is grounds for license revocation in Rhode Island?Rhode Island License Law
- In Rhode Island, a property manager who manages properties for others for compensation must hold:Property Management
- A Rhode Island property manager who collects rents and manages properties for multiple owners must hold:Property Management
- A Rhode Island property manager collects rents on behalf of an owner. These funds must be:Property Management
- A Rhode Island property manager negotiates a lease renewal for a commercial tenant at a higher rate. This is an example of the manager's duty of:Property Management
Key Terms to Know
Earnest Money
A deposit made by the buyer when submitting a purchase offer, demonstrating serious intent and serving as consideration for the contract.
ContingencyA condition in a purchase contract that must be satisfied before the sale can proceed to closing.
Purchase AgreementA legally binding contract between a buyer and seller that outlines the terms and conditions of a real estate sale.
Option ContractA contract giving the buyer the right, but not the obligation, to purchase a property at a specified price within a specified time period.
State-Specific Concepts
License Law
Study This Topic
Practice More Rhode Island Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Rhode Island Quiz →