Can I have Property Management LLC without a RE license in Ga?
Hey Everyone,
I'm hoping someone can shed some light on this or tell me a smart place to look to find the answer. :) I'm still a newbie that is planning for the future and trying to implement a CYA policy from the beginning. :)
I have free legal insurance with my job and used it yesterday for a one hour session with a real estate attorney. He's really, more of a business, corporation, etc attorney who has investors as clients and used to do real estate, but who I was given to dig in on questions I have. When I was trying to get details about having an umbrella LLC, so I could have some continuity, but not share the liability across all properties, he mentioned having a property management LLC as my umbrella. This would offer the continuity for the properties as far as listing open rentals, accepting payments, etc, but still have separate LLCs for the properties in small groups (so the liability is split up).
I asked if I could have a property management LLC without my real estate license in GA and he said that I could as long as it was just my property and my husband's property. He then said he'd need to double check... but I'd have to pay for that.
So, that's my question, can I have a property management LLC in Georgia if I don't have a real estate license, but only plan on managing my own properties and my husband's?