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Plus Late Fees of Form

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hey everybody welcome back to another episode of ask a property manager I'm Errol with rent prep comp and we're here with Andrew Schultz our resident expert property manager Associate Broker I'm not a biast I don't even know what associate rope it really means compared to property manager can you explain so property is not actually in New York State anyway man this is a whole discussion okay all right so in New York State the real property law is article 12 a article 12 a specifies that in New York State if you're managing property on behalf of another person and you're receiving compensation for it you either need to be a direct employee of the property owner like a w-9 employee or you need to have a you need to be a licensed broker or a licensed real estate agent working under a broker and that's where that fiduciary responsibility comes into play there's a lot of different aspects to it but essentially what it boils dow

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