Does A Property Manager Need A Real Estate License?
Does a property manager need a real estate license? If you want to build a career in real estate but are not keen on selling a property, then being a property manager might be a good career choice for you.
A property manager is someone who is responsible for handling the renting, leasing, and overall operations of a real estate property. It can be an apartment complex, house, or commercial establishments. The term is becoming more and more popular today because many real estate owners are getting the services of a property manager to handle the day-to-day operations of their properties because can no longer handle the responsibilities alone.
Being a property manager is not easy. It takes a lot of work to make sure that daily operations run smoothly. There are also some requirements you need to accomplish in order to become a property manager and having a real estate license is one of them.
Are you interested to pursue a career in property management? What are the steps you needed to take to obtain a license? Is there any exception to the rule? Read below to know more.
When Do You Need A License To Become A Property Manager?
Most states require property managers to have either a proper manager’s license or a real estate and broker’s license, or both in order to make real estate dealings and transactions. The reason for this is that many states have their own set of laws to protect the right of tenants and landlords. To make sure that the property manager understands these laws, further training and license are needed.
In Florida, a property manager needs to have a broker license if he or she is being paid to handle rentals and leases for other people. Renting and leasing are considered real estate activities are therefore under Florida’s real estate licensing law.
Property Management Licensing Exemptions
While property managers handle real estate dealings and are most often require a license, there are still some exceptions to the rule. For one, if a landlord or real estate owner gets the service of someone to manage their properties and is being paid a salary as opposed to a commission per transaction, then a broker’s license is not required. This just means that the landlord hired someone to assist them with managing day-to-day operations to the property.
Requirements For Real Estate Broker’s License
The most common real estate broker’s license requirements include:
- An individual at least 18 years old
- A high school diploma
- Being in the real estate business for more than 2 years
- Completed a real-estate pre-licensing course for a broker. In Florida, you need to complete a course with 72 hours with topics ranging from all things real estate.
- Passing the Real Estate Broker Examination
- Licensing fee (The fee will depend on the state. In Florida, it is roughly about $115)
- Completion of the application form online
Some state requires having an existing real estate sales associate license to acquire a broker’s license, just like in Florida. Some, however, only need a property management license which is easier to acquire. For a property management license, you need to complete a property management course and pass the property management exam.
Contact Us for Property Management Services in Florida
Does a property manager need a real estate license? Now that you already know what a property manager needs to have, then you can either make a choice whether you’d want to manage a property or if you’re getting the service of an experienced professional. For property management services in Clermont, Orlando, Minneola, Mascotte, Groveland, Oakland, Montverde, Howey-in-the-Hills, Leesburg, and all other communities in Florida, contact Bridlewood Real Estate. You may reach us at 352-404-6484 for inquiries.