Auditing

During the term of the lease, does the security deposit belong to the landlord or the tenant?

What jurisdiction does the Department exercise over landlord /tenant disputes?

Is the "residential leasing agent or manager" of the owner's property required to hold a real estate license?

Is a property owner required to hold a real estate license to manage the owner’s property?

Who may be a signer on a property management trust account?

May property management compensation be paid to licensees from a property management trust account?

How should monies received from tenants or property owners be handled?

What are the requirements for a property management trust account?

Who is responsible for supervising property management employees?

Frequently Asked Questions

What is the purpose of the Broker Audit Declaration?

The Broker Audit Declaration serves two functions. (1) To provide information to the Department’s Auditing Staff about the broker’s real estate practice since the last renewal period; and, (2) To provide the broker with an overview of the current Arizona Revised Statutes and Commissioner’s Rules applicable to licensed brokers and confirm that the broker is complying with those statutes and rules.

Is the broker required to submit the Audit Declaration Form with the broker's license renewal or employing broker's (entity) license renewal?

A designated and/or self-employed broker is required to complete and submit a Broker Audit Declaration form prior to or with the broker’s license renewal, pursuant to the Commissioner’s Rule R4-28-303(A)(2)(f). A Broker Audit Declaration form is not required for the renewal of an entity license.

If a broker is semi-retired and doesn't use the real estate license often, does the broker have to complete and submit a Broker Audit Declaration Form with the broker's license renewal?

Yes, any designated and/or self-employed broker with an active license must complete the Broker Audit Declaration as part of the broker’s license renewal process regardless of whether or not real estate business has been conducted. If real estate business has not been conducted, most of the answers will be “N/A”.

More questions?

Review our frequently asked questions about the process and more.

VIEW THE FAQ

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