Do Property Managers Need To Be Licensed?
Do property managers need to be licensed? And if so, how does somebody obtain a license? First off, there are two types of property management licenses. There are real estate brokers’ licenses and normal property management licenses. Real estate brokers’ licenses are required in all states for managers who are responsible for the purchase and sale of properties. Most states also require property management companies to be licensed brokers, so many property managers who work under property management companies may also be licensed real estate sales agents.
What Does It Involve?
Property manager licensing involves coursework from an approved source, passing an exam, and taking continuing education classes. The minimum age requirement to be a property manager is 18 years old, and the candidate must be a high school graduate or equivalent and also be in good standing with the state’s real estate board. Some places may require you to pass a criminal background check as well, just to be on the safe side. In some circumstances, holding a real estate broker’s license means that an individual doesn’t need to hold a separate property management license, as somebody with a broker’s license is considered to have fulfilled the educational requirements for property management licensure.
So, does a property manager need a real estate license? In all states, a broker’s license is needed in order to purchase and sell properties. However, if a property manager doesn’t intend to be a sales agent, they can get away without a real estate license.
What Property Managers Do
A property manager acts as the middleman between tenants and rental property owners and may work individually or as a part of a larger management company. Each state establishes a set of laws that all property managers have to follow. These regulations are designed to protect tenants, owners, property managers, and investors from unfair practices. Licensing demonstrates the understanding of landlord-tenant laws.
What We Do
SLT Properties is North Carolina’s finest property management company. Serving the Triad area, we here at SLT dedicate ourselves to being the most all-inclusive property managers around. A few of the services we offer include and are not limited to:
- Helping to determine rental rates
- Marketing your property
- Tenant screening and matching
- Rule enforcement
- Profitability maximization
- Legal services like performing evictions
- Providing maintenance services
- And many more!
We assist both property owners and prospective rental tenants alike in getting the best deal they possibly can.
Click Or Call Today
Putting your property up for rent is a brilliant way to collect extra income, but it can be stressful and complicated. That’s why our team of licensed property management professionals is here to do all the hard work for you so you can live your life worry-free. Ready to start your adventure? Give us a call or fill out one of our contact forms today!