Updated almost 5 years ago on . Most recent reply
Starting a property management company
I’m in Iowa and looking into starting a property management company. In Iowa i need to have a real estate license to get a property management license. Does anyone know if the property management company can be separate from the real estate agency I would be affiliated with in getting my real estate license?
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In Iowa, the property management company needs to be a brokerage. All your PM agreements will be with the brokerage, and you'll need to have a state audit-able trust account for all the rents to go into. When I started my company, I tried having a separate LLC that wasn't a brokerage (even though I was licensed) and got fined.