Do I need a real estate license to manage a property?

Do I need a real estate license to manage a property?

Property Manager · Member since 2022 · 5 posts · 0 votes

My family has home that has been a place we use for anyone in the family who needs a home. Recently, the family member living in the home decided to move out. We all would ideally like to sell the home once the market is in a better place and use those proceeds to fund a new home purchase. For now, we will need to rent the home. I've been a property manager for almost a decade, so my family has turned to me to be the property manager.  My experience as a manager though has always been an employee for a management company. I'm unsure if I am able to manage the property without a real estate license. Which leads me to a few questions about how to make this work.

1. Can I be the property manager without a real estate license?

If not, then 2. Can I be an employee manager under my family's LLC for the property?

If not, then 3. Can I be added as an owner to the property and then be considered self managing the property?

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  • Doug SmithPro Member
    Lender · Tampa, FL · Member since 2013 · 2k+ posts · 2k+ votes
    3y

    If you and your family own the property, then there is no reason you can't manage your own property. If you hold yourself out as a property manager for others, however, you would usually need a license. 

  • Michael SmytheBusiness Member
    Real Estate Agent · Metro Detroit · Member since 2023 · 4k+ posts · 3k+ votes
    3y

    If you have actual ownership in the property, then you can typically legally manage it without a license.

    Otherwise, you can try to pursue option #2.

    Logical Property Management4.9455 Reviews
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