FACTS: A licensee owns and manages several rental properties.  The licensee leases space out of an office complex to meet potential tenants because he does not live close to the brokerage.

ISSUE: Does the broker need to license the office space as a branch office?

ANSWER: Yes.

DISCUSSION:

A.R.S. § 32-2127(A): If a broker maintains more than one place of business within the state, the broker shall procure an additional license for each branch office maintained.

In this instance, the licensee is leasing space and meeting with potential tenants there on a regular basis.  Therefore, the office space must be licensed as a branch office.