New to Real Estate · Seaford, DE · Member since 2014 · 12 posts · 2 votes
Hey Everyone,
I am wondering if I am able to hire my own property manager that would work for my company? It seems that you have to go through a real estate agency, and have a licensed agent do it for you. I ask because I know someone personally that is currently a property manager of a complex and they do not have a real estate license. I want to try to find someone to be an employee and handle the property management duties for me. I am located in Delaware by the way.
Not giving legal advice. Regardless of the various laws regarding real estate licensing, the one thing that is pretty universal is that you don't need a license to manage property you own. As long as your property manager is your direct employee and managing properties you own, there shouldn't be a problem.
Having said that, the fact that you don't need a license to manage properties you own does not exempt you from your state's landlord/tenant laws or federal laws like Fair Housing. You should make sure that anyone you hire as a manager for your properties is well versed on these laws.
You will of course need to check the laws out in your state but here in MO you only have to have a real estate license if you are managing a property for another individual and are being compensated for that service.
So in the case that you are talking about where they would be your employee and they would simply be managing just your properties, that would not be a problem…at least not in MO.
California has the same laws as the other posters mentioned. Only if you manage for third parties. The issues typically have to do with handling security deposits and holding funds for third parties (eg: trust accounts).
Not giving legal advice. Regardless of the various laws regarding real estate licensing, the one thing that is pretty universal is that you don't need a license to manage property you own. As long as your property manager is your direct employee and managing properties you own, there shouldn't be a problem.
Having said that, the fact that you don't need a license to manage properties you own does not exempt you from your state's landlord/tenant laws or federal laws like Fair Housing. You should make sure that anyone you hire as a manager for your properties is well versed on these laws.
Having said that, the fact that you don't need a license to manage properties you own does not exempt you from your state's landlord/tenant laws or federal laws like Fair Housing. You should make sure that anyone you hire as a manager for your properties is well versed on these laws.