Humber/Ontario Real Estate Course 1 Exam Practice

When handling a short-term rental property, what is a permissible action for the property owner?

1. Employ a real estate registrant to manage the rental

2. Handle the rental without a licensed agent

3. Offer the rental only privately

4. Use an unregistered assistant for management

5. Utilize an online rental platform

6. Rent out directly without any intermediary

The correct answer is: Employ a real estate registrant to manage the rental

Employing a real estate registrant to manage the rental is a permissible action for a property owner. In Ontario, real estate registrants are trained professionals who possess the necessary knowledge and skills to handle rental transactions effectively. They are familiar with relevant regulations, local market conditions, and can ensure compliance with legal requirements. This involvement guarantees that the property owner benefits from expert guidance in marketing, managing tenant relationships, and navigating the complexities of rental agreements. In contrast, while property owners may handle rentals directly or via certain platforms, these options may not provide the necessary level of professionalism and regulatory compliance that a registrant would. Relying on unregistered assistants can lead to potential legal issues, while offering rentals privately may limit market exposure. The choice to rent out directly without intermediaries or solely through online platforms could also present challenges in terms of finding quality tenants and managing property effectively. Therefore, engaging a licensed agent is a robust approach to managing a short-term rental property.