Final answer:
The property management licensing exemption refers to individuals employed by a broker who assist in property management services on all properties managed by the firm.
Step-by-step explanation:
The property management licensing exemption is described as follows:
- A. When any person employed by a broker performs all related tasks as indicated in the written agreement
- B. When any individual employed by a broker assists in property management services on all properties managed by the firm
- C. When any individual employed by a broker assists in property management services on residential property
- D. When an individual executes rental leases with multiple owners based on verbal agreement with the broker
The correct answer is option B. This exemption applies when any individual employed by a broker assists in property management services on all properties managed by the firm.
In this case, the exemption means that individuals employed by the broker do not need to obtain a property management license while assisting in property management services on all properties managed by the firm.
For example, if a real estate firm manages multiple properties and hires individuals to assist with property management tasks across all those properties, those individuals would be exempt from needing a property management license as long as they are employed by the broker.