Margaret is a licensed Minnesota real estate broker who operates Twin Cities Realty. She also personally owns a rental property that she manages herself. She collects rent, handles maintenance requests, and signs lease renewals for her own property. One of her tenants asks Margaret to manage the tenant's other investment property for a monthly fee. Margaret agrees and begins managing the tenant's property without listing it on her broker's license activities or disclosing this arrangement to the DOC. Under Minnesota Statutes Chapter 82, which statement most accurately describes Margaret's compliance obligations?

Question

Practice Of Real EstateLicense_lawHARD

Margaret is a licensed Minnesota real estate broker who operates Twin Cities Realty. She also personally owns a rental property that she manages herself. She collects rent, handles maintenance requests, and signs lease renewals for her own property. One of her tenants asks Margaret to manage the tenant's other investment property for a monthly fee. Margaret agrees and begins managing the tenant's property without listing it on her broker's license activities or disclosing this arrangement to the DOC. Under Minnesota Statutes Chapter 82, which statement most accurately describes Margaret's compliance obligations?

Answer Options

A

Margaret is non-compliant regarding both properties because broker licensees must use a separate property management license for all management activities, including their own property.

B

Margaret is fully compliant because managing her own property and managing one additional property for a fee are both exempt from the licensing requirement for licensed brokers.

C

Margaret is compliant because the licensing requirement for property management applies only to individuals managing five or more units on behalf of others.

D

Margaret is compliant regarding her own property but is conducting a licensable activity regarding the tenant's property, which must be conducted under and disclosed through her broker license.