Updated almost 11 years ago on . Most recent reply
Property Management question
I'm hoping this is the right place for my question!
My father is currently in the process of buying a multi-unit building in my area (he lives in another state). He wants me to do the property management, since I have previously worked in Property Management Accounting for one of the major RE companies (as well as many many years of customer service). Granted, I have a lot to learn and to research, but I believe I would be able to do well.
My problem is this: I am finding/getting conflicting information as to what I need to do in order to be the property manager. I need a broker's license, no I don't need a broker's license if I'm a resident manager, or no I don't need one at all. And that's after looking for state-specific answers.
My husband had an idea to maybe get around the needing a license issue - if my father made me part owner in his LLC (at even 5% stake), that should be enough to allow me to do the managing for his LLC (rather than through our own).
Thoughts, suggestions?