I understand that to be a property manager in Colorado you must be a licensed realtor. Can anyone verify if this is accurate?
Also, does this apply to an owner who owns and manages their own portfolio? Or only to properties being managed in an external Property Management function?
As an owner you're allowed to manage your own properties. You still have to comply with all relevant laws. You need a license if you're going to manage other people's properties.
To be a property manager for others in Colorado, you DO need the Real Estate license. Years ago, being a property manager was what I planned on doing for my retirement gig. Handle a few properties for other owners, minor repairs, find new tenants, and rake in 10% .
Here in Colorado, you need to have a real estate license, and in order to get your license you need to go through what basically amounts to an apprenticeship for two years (associate), before you can have your own firm. If you are the property owner, you can manage your own properties without the license. There are some great on-line real estate courses, and I have found the information within them has really been helpful for my investment business.
What about if you set up a maintenance company that maintains all of the properties, then you have a real estate attorney prepare all of the lease agreements. Do you still need to have a licensed brokerage company?
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