Do You Need A Property Management License To Work As A Property Manager?
The local real estate market would not move or work smoothly without the local property managers working on them. Once a property is sold to a client, the property managers help the owners take care of the building on and off the ground. How?
Simplification! They handle the property budget and recommend rentals or sales rates if the new owner wishes to go that route.
Many states in the US have property managers who work with specialized certifications. But is a property management license really necessary to work this job? Essentially NO. The Bureau of Labor Statistics does not make it mandatory to obtain a property management certificate except for a few states.
So, Do I need a property management certificate?
This is a common question to ask if you are taking a similar career route. So, why don’t you read this article and let me fill you in? Sounds good? Okay, let’s start.
What Does A Property Manager Do?
A property manager might work with both commercial and residential properties. They are entrusted with all aspects of the property’s handling. It includes both financial aspects and maintenance.
The maintenance part includes working on landscaping, property repairs, landscaping, or renovation if needed. The financial part requires the property managers to collect rent, handle payrolls, attract tenants, show the property to prospective renters, and pay bills.
More so, the property managers have to do other work, such as handling complaints from the renters or tenants. They are the renters’ first point of contact regarding any potential building issues. Compliance with the anti-discrimination laws or entering into tenancy contracts when entering tenancy contracts or for unit accessibility.
Do You Need A Property Management License?
I said it before, and I will say it again – Not necessarily. Only eight states in the US make it mandatory for real estate workers to have a license for property management. Those places include Alaska, Delaware, Georgia, Hawaii, Florida, Illinois, Nevada, Virginia, and the District of Columbia.
If you are working as a real estate property manager in one of these places, it is mandatory that you get yourself a license.
Some states also require you to complete the necessary academic qualifications before you are a qualified real estate property manager. The licensing education also varies from state to state.
If you are from the state of Nevada, then you must complete 24 hours of pre-licensing education before you get qualified for the license. The education you complete must cover managerial, financial, and legal aspects of being a real estate property manager.
In Florida, we have a completely different scenario. You need a real estate license to become a property manager. However, there is no specific license requirement for a property manager.
If you are from California, you do not need a real estate license to become a property manager. On the contrary, the California Association of Realtors provides a Property Management Certification to real estate agents.
In both cases where you do need or do not need a real estate certification, we suggest getting a certificate through organizations such as the National Association of Residential Property Managers.
The decision regarding whether you need a real estate property management license or not totally depends on your location. Check your state regulations and talk to local real estate property managers to make a uniform decision.
How Does A Real Estate Agent Get Their License?
Whether you are a property manager or willing to become one, you must check with your local real estate division. You can ask them how to get a real estate property management license or a realtor license. Typically, the information regarding this is available on the website of your state attorney. However, here are some common areas you need to focus on if you want to get your license.
- Complete required education.
- Pass your licensing exam.
- Fill out a licensing application form.
- Pay the application fees.
The options to getting your education will be accessible as soon as you start with the procedure. States like Nevada have many authorized schools for getting education. But there are many online and offline courses available to help you.
You can choose from the different means available for licensing. You can choose to enroll in one of those classes. You can also complete your property management course or education online and get your certification accordingly.
Important Real Estate Licenses
So, do you need a property management license? I hope you found your answer. Additionally, if you want to take your career forward with more qualifications, I would suggest doing all the necessary certifications I have mentioned here.
Real Estate Broker License
If you cannot access real estate property management licensing, you can go for brokerage licensing instead. This is one of the most common accreditations in real estate property management.
However, you must discuss the type of listening you would need with the professionals and the real estate commission of your state.
Real Estate Salesperson License
If you want to work under a real estate broker, you only need a real estate salesperson’s license. However, acquiring a real estate salesperson’s license is not as easy. You must complete your courses, pass the exam, and pass your background check for the licensing.
Furthermore, if you plan to become an established real estate broker, you must first qualify as a real estate salesperson and gain experience in real estate property management.
Real Estate Leasing Agent License
A real estate leasing agent is a sponsored employee by a reputed and licensed real estate broker. Property management companies and brokers that take care of real estate leasing would require their employees to have a leasing agent license.
Final Takeaway
That’s about it. If you want to develop your real estate property management career, you need some licensing. However, a property management license is not necessary in most states except for the eight states discussed above. But you can add a few certificates and licenses to your collection to build more credibility and come out as a candidate worth acquiring.
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