Property management (how do I get started)

[Jaime Zarate]

I was wondering, what kind of certifications/licensing do you need to become a property manager or get started in the business? I called one company they said I need my leasing license/my real estate license.

[Lauren Robins]

Hi Jaime, 

The requirements to become a property manager vary by state, but in most places, you do need some form of real estate license to legally manage rental properties for others—especially if you're collecting rent, negotiating leases, or marketing properties. A full real estate salesperson’s license is the most common credential required. This allows you to handle leasing, tenant placement, and property management tasks under a licensed broker. In some states, you may also need a property management license or a leasing agent license, which is a more limited credential than a full real estate license but still allows you to perform basic leasing and management duties under a supervising broker.

For example, in states like Illinois, a leasing agent license is distinct from a broker license and specifically applies to professionals who show and lease residential rental units. In Texas, however, there is no separate property management license—you must be a licensed real estate agent or broker to manage properties unless you are managing property you own. In Florida, a real estate license is required for managing rentals for others, but not for managing your own properties.

It’s also important to understand whether you’ll be managing your own investments or working for others. If you're only managing properties you own, licensing generally isn't required in most states. But if you’re planning to run a property management business and handle other people’s properties, you’ll almost always need a license, and you may need to work under or start a licensed brokerage. Some states also require a property management company to be registered as a brokerage entity and carry appropriate errors & omissions insurance.

In addition to licensing, you might also consider getting certified through organizations like the Institute of Real Estate Management (IREM) or National Association of Residential Property Managers (NARPM). These certifications, like the Certified Property Manager (CPM) or Residential Management Professional (RMP), are not legally required but add credibility, training, and networking opportunities as you grow.

Note: This information is for educational and informational purposes only and does not constitute legal, tax, financial, or investment advice. No attorney-client, fiduciary, or professional relationship is established through this communication.