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.
The material provided here is for informational purposes only and is not intended and should not be considered as legal advice for your particular matter. You should contact your attorney to obtain advice with respect to any particular issue or problem. Applicability of the legal principles discussed in this material may differ substantially in individual situations.
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