YES. Managing property is expressly considered a real estate activity under existing New Mexico real estate licensing laws, and requires a broker's license.
According to the Real Estate Brokers statute, â??Property Managementâ?? is defined as including:
the showing, renting and leasing of real property, the collection and disbursement of funds on behalf of other persons, the supervision of employees as specified in the management agreement, the supervision of maintenance and repair work, handling of tenant relations, and/or preparation of financial reports.
YES. For example, employees of the property owner or of qualifying broker, acting on the owner's or broker's behalf with respect to the property, if the acts are performed in the regular course of or incident to the management of the property.
For more information about these and other New Mexico property management requirements and exceptions, please contact the New Mexico Real Estate Commission.
Before hiring a property manager to manage your New Mexico rental property, you should always check that he or she is licensed appropriately. You can check the license status of New Mexico property managers at the New Mexico Regulation and Licensing Department "Look Up A License" webpage.
There is no requirement that a community association manager or condo association manager in New Mexico hold a real estate broker's license.
New Mexico qualifying broker licensing requirements include:
New Mexico associate broker licensing requirements include:
For more information about these and other licensing requirements, please contact the New Mexico Real Estate Commission. Specific information about licensing may be found at the Commission's Licensing Requirements webpage.