In order to be a property manager, does one need a real estate license?

Answer 1

N O !!!!!

Anyone can be a property manager, unless you want them to sell your property.
It would certainly help, but all a property manager does is keep the place rented and in good shape. Their contract states that they have to represent your best interest, but I have one property manger and have rented throught two others and none of them have had a real estate license.

My only recomendation, would be to get a lawyer involved when creating a contract and the lease.

Answer 2

In most states, a real estate license is required to manage properties for others. The concept is based upon having full knowledge of rental law in the state, along with HUD guidelines and discrimination laws.

Answer 3

Find out what you'll be liable for fee smart and what htey pays. Will you have got to purchase your possess trade playing cards, indicators, do they chip in with promoting expenditures? Are there table costs? Find out what the fee break up is. Find out what the E&O coverage will fee. Find out if they're a memeber of the board of realtors, wherein case you'll have got to understand how a lot that expenditures to become a member of, considering that if they're a member you need to become a member of. If the manufacturer is a franchise, discover out what the franchise price's shall be. Ask approximately flooring time - flooring time may be very predominant for folks simply beginning up with out many contacts but. What determines how a lot flooring time you'll get a week.

Answer 4

It depends on your state law, but typically yes becasue you have to act in the best interest of your client. Check your states occupational code.