Do you need a license to be a property manager?
03/12/2015 | Author: Editorial Staff
Can an unlicensed person be a property manager?
It depends. A license is required for anyone who controls the acceptance or deposit of rent from a resident of a single-family property if the person has the authority to do any of the following:
- Use the rent to pay for services related to management of the property
- Determine where to deposit the rent
- Sign checks or withdraw money from a trust account.
In addition, only a licensed broker or salesperson may perform leasing activities, such as finding tenants, showing properties for lease, and negotiating leases. However, there are certain activities that do not require a license, including bookkeeping or arranging for repairs.
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