Where readers ask, and we (the community) try to answer:
To folks reading this blog:
In California, do you need a real estate broker’s license in order to be property manager? Or just a real estate agent’s license? Or no license needed?
Thanks.
David
David,
As far as we know, and you’ll want to consult CAR.org, if you plan on having your own office and essentially starting a new business you will need a Broker’s license. If you plan on “hanging” your license at a Brokerage and working for a company that already exists and that company has a Broker’s license already, you will only need an Agent’s license. You definitely need one or the other, so why not get both!
Hope this helps….
Thank you so much for this information.
David
You wrote PROPERTY MANAGER,is that what you meant? I have found nothing that says a property manager requires a license. What are you looking to do?
ditto grim. I’m confused. What do you mean by property manager?
is a local landlord with – say – 24 units in 10 buildings – a property manager?
or do you mean offering your services to landlords to sign leases and kick tenants out on their behalf?
We understood the question to mean a person that offers their services to a property owner in exchange for compensation and helps find tenants, sign leases, end leases, collect rents, etc. Not somebody that lives at a property and “manages” the property itself.
I was actually just on the phone with the DRE about this very issue. If you do not handle client funds (ie: have a Trust Account), then a real estate license is not needed for property management. However, it’s a very good idea to have one, so that you’ll know all the statute.
I hope this helps.
CWM
Charlie,
Would you bes o kind as to point me to the page or give me a contact for this? I’d like to see the specific requirement and where it is codified. If it’s too much of a hassle – no worries!
grim
Hi Grim;
I couldn’t find it myself and that’s why I initially called the DRE.
Good Luck,
Charlie