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- Property Mgmt
Property Mgmt is defined in the occupationalccode to be the leasing or renting, or offering to lease or rent, properties belonging to others, under a property mgmt contract. This property mgmt service is performed as a third party, for a fee.
If a company or individual is providing leasing or renting services for a real estate owner or landlord pursuant to a property mgmt contract, most states require the individuals or company to be licensed, from the very first leasing activity. Most states allow real estate agents to provide property mgmt but always under the supervision of an employing broker.
However in some cases if the only activities a company is providing are lawn care, snow removal, and physical building maintenance, rent collection, condominium association management with no leasing or renting a license may not be required.
However if property mgmt is being done by the property owner or landlord, or a direct employee of the owner, performing the renting or leasing activity for the employer in the employer’s name, a property mgmt license may not be required.
Check with your local state and city regulations for licensing for property mgmt.
This is a blog post for Real Estate Professionals, Investors, Landlord, Property Manager, and Property Management Companies. Property Mgmt is brought to you by SimplifyEm Pay Rent Online and Property Management Software
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