Rohnert Park, CA · Member since 2017 · 25 posts · 8 votes
I’ve been self managing my own rental property for about 5 years now and I’ve learned a lot in that time. My parents have decided to start renting out their soon to be old house and they’ve asked me to manage it for them. I’ve offered to do it for free, but they want to pay me for it.
Do I need to be a licensed property manager in California to manage someone else’s property?
I'm not sure about that, but check with your city and / or county. They may want to tax you, and if they don't get paid they may get cranky. L.A. City does, I found out the expensive way.
paying you could be a deduction for your parents ( expense) but it would be income for you (taxable after $600 i think) . Besides seeing if it is a requirement, look into who gets the best tax sitation and go from there.