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Yes. Any individual landlord who rents/leases out three(3) or more residential single family dwelling units(i.e. A Duplex = 2 dwelling units), or any(1 or more) commercial, industrial or institutional property is required to obtain a business license.
No.However, you would need a business license if your company will have an office building within the city limits of Fayetteville, or will be operating out of a home (home-based business) and the home is located within the city limits of Fayetteville.