Dallas, TX · Member since 2017 · 6 posts · 0 votes
Here in Texas, can I pay an employee to manage my own properties? This ensures I can train and keep tabs on things the way I want it done, and essentially after a certain number of properties I will come out net ahead.
Duties would include absolutely everything from A-Z, I want to be absentee of managing property.
typically, I know to manage property in Texas, some places say a property owner can salary (plus bonus??) employees to manage their personally owned properties.
However, TREC does not specifically make this distinction from my searching their website.
Does anyone do this, and or know about this specifically?
My initial thought was that TREC says you can't manage property without broker supervision. No distinction is made on TREC website if its your personal employee and personal portfolio.
@Stephen Burke I am not familiar with Texas real estate law, but most states require someone to be licensed if they are being paid to manage property.
With that said, sometimes the best thing to do is to outsource work to professionals who do the work day in and day out. They are generally more informed and better at managing the liability. If you have one employee doing this and they are sick or on vacation will you be taking over? What about if they leave the company, you will essentially need to train a property manager every time there is turnover.
While I understand you may want things a certain way, it is always good to determine what you want and why. Sometimes our clients want something a specific way and then we show them why what we are offering is actually better.
If you own it and they are your employee, then yes they can do Property Management. I am an employee of a company that owns multi family and we manage our own by paying employees.
You just have to pay all the employment taxes related to this employee, which can get expensive.
In Texas, you must be licensed to manage Rental Property. The only exception is onsite management.
For example, an onsite manager for a 250 unit apartment complex does not have to be licensed. However, and employee cannot manage a 250 unit portfolio of properties in different locations