N.M. Admin. Code § 16.61.24.15

Current through Register Vol. 35, No. 19, October 8, 2024

Section 16.61.24.15 - RECORD ACCESSIBILITY, RETENTION AND INSPECTION

The property management brokerage shall maintain office records of all properties managed for others.

A. Accessibility. Records shall be maintained at or accessible from the brokerage office at the location as registered with the commission.

B. Retention. All property management records shall be retained for the duration of the contract and six years during a management agreement. At the termination of a management agreement, records shall be retained for six years from the date of termination.

C. Inspection. All records are subject to inspection by the commission or its duly appointed representative at or accessible from the brokerage office or at the offices of the commission.

D. The qualifying broker is responsible for the maintenance and safe-keeping of all property management records.

N.M. Admin. Code § 16.61.24.15

16.61.24.15 NMAC - Rp, 16.61.24.15 NMAC, 1-1-2012, Amended by New Mexico Register, Volume XXXI, Issue 23, December 15, 2020, eff. 1/3/2021