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Samuel-II, Lawyer
Category: Real Estate Law
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Experience:  real estate law
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Is a commercial property manager (the individual owner of

Customer Question

Is a commercial property manager (the individual owner of the management co and the business entity(llc)) in nystate (nyc) required to have a brokers license? even if checks that are collected are made out to building owner, but collected by manager..... specifically what ny law (and chapter) covers this?
Submitted: 4 months ago.
Category: Real Estate Law
Expert:  Samuel-II replied 4 months ago.

Article 12-A of the Real Property Law provides that anyone who, on behalf of another and for a fee, 1) negotiates a sale, exchange or rental of real property, 2) collects rent, or 3) negotiates a commercial loan secured by a mortgage must be licensed as a real estate broker.