Property Management
A Texas property manager discovers that their property management company's license has lapsed. They must:
AContinue operations since they have individual broker licenses
BCease property management activities immediately, renew the license, and notify affected clients✓ Correct
CTransfer all management agreements to a licensed company until renewal
DApply to TREC for a temporary operating permit
Explanation
If a property management business entity's license has lapsed, the entity cannot legally operate until the license is renewed. The property manager should stop taking new clients and renew the license promptly. Continuing operations on a lapsed license is a TREC violation.
Related Texas Property Management Questions
- Under Texas Property Code, a residential landlord's failure to return a security deposit within the required time and without an itemized statement may result in the landlord:
- A Texas property management company receives a notice from a tenant claiming habitability violations. The FIRST step the property manager should take is:
- In Texas, a residential tenant who has been served with an eviction notice (forcible detainer) and loses in justice court may appeal to:
- A Texas residential property manager's rent collection policy should include:
- An Austin or Dallas property manager handling commercial leases should understand that CAM reconciliation involves:
- A Texas landlord who wrongfully retains a security deposit without providing proper documentation may be liable for:
- When managing a commercial property in Dallas or Houston, a Texas property manager's primary responsibility regarding CAM charges is to:
- The Texas Association of REALTORS® (TAR) provides lease forms that are widely used by Texas property managers. These forms differ from TREC promulgated forms in that TAR forms are:
Practice More Texas Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Texas Quiz →