Is a licensed property manager ever required by law?

2 Replies

I’m looking to buy a 40 unit portfolio in Indiana.  One property in this portfolio is a 16 unit apartment complex.  My realtor is telling me that any time there are more than 12 units on a single parcel it is required by law that a licensed property manager must be hired.  I manage my own properties and I feel like she is either misinterpreting a different law or Is simply wrong about that but I can’t find anything online to confirm or deny.  She is also doing property management and conveniently offered to manage it for me.

Is she right about this Indiana law?

Thanks,

Andrew Flora

Originally posted by @Andrew Flora :

I’m looking to buy a 40 unit portfolio in Indiana.  One property in this portfolio is a 16 unit apartment complex.  My realtor is telling me that any time there are more than 12 units on a single parcel it is required by law that a licensed property manager must be hired.  I manage my own properties and I feel like she is either misinterpreting a different law or Is simply wrong about that but I can’t find anything online to confirm or deny.  She is also doing property management and conveniently offered to manage it for me.

Is she right about this Indiana law?

Thanks,

Andrew Flora

 Call a couple of other local real estate agents or a local attorney and ask them if they agree. Getting legal advice on a website isn't the safest way to do things. You will tho' gets lots of "opinions" on a website.

@Andrew Flora

In Indiana, you do need to be licensed to manage for 3rd party owners. If you own the building and self manage or the manager is an employee of the owner/company then they do not need to be licensed.

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