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Updated over 10 years ago on . Most recent reply

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Britt Griscom
  • Rental Property Investor
  • Santa Fe, NM
3
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33
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Do I need a broker's license to manage my LLC's properties?

Britt Griscom
  • Rental Property Investor
  • Santa Fe, NM
Posted

In NM, where I live, property managers have to have a broker's license. I assume this is not the case if you manage your own property. But what if I manage the property for the LLC that I am a member of?

Also, do I have to keep tenant security deposits and last month's rent in a separate trust account? Would the answer to this question change if I owned the condos in my own name?

Thanks.

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Elizabeth Colegrove
  • Hanford, CA
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Elizabeth Colegrove
  • Hanford, CA
Replied

As long as you are managing your own property you are good to go! When you operate others peoples property for profit you need a license ;) 

*no legal advise provided!

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