Rental Property Investor · Nashville, TN · Member since 2013 · 63 posts · 43 votes
8y
These types of requirements tend to be state and/or city and county specific. We operate vacation rentals that we own in TN and FL. In both states (and I suspect most/all others) you can manage any kind of property that you own without a license of any sort, except possibly a business license.
When you begin managing short-term rental properties for others...at least in TN and FL, you don't need to be a licensed real estate agent, but your management company must have a vacation rental license. In TN, it is called a Vacation Lodging Specialist (VLS) and as I recall, FL has something similar.
Best path would be to check with the real estate commission in your state and get the answer from the source.
Property Manager · Durham, NC · Member since 2014 · 203 posts · 115 votes
8y
@David Kessler - YES. In North Carolina, you will need your broker's license to perform property management services.
Key components of property management (leasing and renting) are considered real estate activities under existing North Carolina real estate licensing laws. As a property manager, if you are going to lease, rent, list, or offer to perform any of those acts, you will need a broker's license.
In North Carolina the only people that can manage real estate are:
a licensed realtor;
the property owner;
employees of the property owner;
...such as a manager in the owner's limited liability company; and clerical, maintenance or janitorial personnel or other people ~ who are not involved in the renting' or leasing of real estate.
If you want to dig into the weeds and review all the legalese of who is required to have a NC broker's license... read NC General Statute Chapter 93A Real Estate Law, more specifically section 93A-2 - Definitions and exceptions. Within that section, it states any person who offers to sell leases or offers to rent any real estate for others is required to have a NC real estate license.