All Forum Posts by: Jason C Wilkinson

Hello everyone. I'm working with a friend who has many years as a Real Estate investor. We are considering starting our own property management company in California. Neither of us is a licensed broker however (required in California), so we are in discussions to possibly partner with a licensed broker so we can start the business. We will be managing the day to day and the broker will mostly be a 'silent partner'. I wanted to see if anyone has tried to structure a property management business this way. If so, what were some things that went well and what were some things that didn't go so great? Thanks.

Good question, I was wondering this myself. So I did some internet sleuthing.

If you are managing for compensation and for another, you need a CA broker license: CA B&P 10131

This Real Estate Bulletin talks about a broker's responsibility to supervise, and how they prosecute "rent-a-broker" (aka Silent Partner?) situations: Real Estate Bulletin Summer 2010

If it's a property owned by your corporation, the management can be done by a corporate officer without a license: C A B&P 10133

Not sure if a property owned by an individual can be managed by an employee of that individual ... this is what I'd really like to know. Or owned by a Corp managed by an employee.

There is a licensing exception for a resident manager ... CA law requires properties w 16 or more units to have a resident manager.

thanks David. That bulletin was an interesting read. If I interpret it right, the broker is to supervise activities of licensed agents doing licensed agents work. But even if working under a brokers license, an unlicensed person can not do licensed agent work (such as showing a property for rent or collecting rents)? Am I right to interpret it that way?

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All Forum Posts by: Jason C Wilkinson

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Post: Starting Property Management Company in California, but....

Post: Starting Property Management Company in California, but....

Post: Starting Property Management Company in California, but....