Question

A broker's license is required in California for any person or company that leases or rents or offers to lease or rent or collects rents from real property under what circumstance?

a. When a contract for management services is in place
b. When the person or company performing these services does so for compensation
c. When the services are being performed for longer than 1 year
d. When the property owner and the person performing these services have a verbal agreement

Answer 1

In California, a broker's license is required for leasing or renting services when performed for compensation, demonstrating that licensed brokers have met the necessary quality standards.

Step-by-step explanation:

In California, a broker's license is required for any person or company that leases or rents, or offers to lease or rent, or collects rents from real property when the person or company performing these services does so for compensation.

Occupational licenses such as a broker's license ensure quality in the labor market, indicating that a worker or company has met education or testing requirements mandated by government agencies. In the field of real estate, this regulation helps protect property owners and tenants by ensuring that those offering management services are qualified and held to professional standards.

In California, a broker's license is required for any person or company that leases or rents, offers to lease or rent, or collects rents from real property when the person or company performing these services does so for compensation. This means that if someone is being paid to perform these services, they must have a broker's license.