Virginia License Law
A Virginia property management company must have a licensed broker to:
AOnly sign commercial leases
BSupervise all real estate activities including leasing, rent collection, and property management for others✓ Correct
COnly manage more than 20 units
DOnly manage commercial properties
Explanation
Property management activities for others for compensation constitute real estate brokerage in Virginia. A licensed broker must supervise all such activities.
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Key Terms to Know
State-Specific Concepts
License Law
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