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Updated over 10 years ago on . Most recent reply

Do I need a broker's license to manage my LLC's properties?
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.
Most Popular Reply

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!