What must a licensee do upon acquiring interest in a property being offered for rent?

When a licensee acquires an interest in a property that is being offered for rent, it is essential for them to disclose their ownership interest. This requirement is in place to maintain transparency and protect consumers. Disclosing ownership helps ensure that potential tenants are aware of any possible conflicts of interest that might affect their leasing decision. It fosters trust between the licensee and the tenants, as they have a right to know who they are dealing with in any rental transaction.

Transparency in real estate transactions is crucial because it prevents any misunderstandings or misrepresentations about the relationship between the parties involved. Having this knowledge allows tenants to make informed decisions about their rental agreements and helps maintain the integrity of the leasing process.

In contrast, notifying tenants immediately, filing a disclosure form with the local government, or ceasing to advertise the property do not address the critical need for transparency regarding the licensee's interest in the property. These actions do not fulfill the requirement to disclose ownership interest directly to potential tenants, which is why the correct response focuses specifically on that requirement.