Most states require a real estate license for anyone involved in property management activities. It can get a little confusing as some states’ real estate statutes never even mention the words “property management”.
For example, Idaho, Maine, and Vermont do not require any license to be a property manager. On the other hand, Montana, Oregon, and South Carolina allow property managers to work under a property management license instead.
A realty license is typically required if you are involved in any of these six activities:
- Advertise the availability of rental properties.
- Prepare or discuss a property management agreement with an owner.
- Negotiate leases or lease terms.
- Show a rental property.
- Drive or accompany a potential renter to a rental property.
- Collect Rent.
Real Estate License
If a real estate license is needed, there are a few requirements before you can even be considered:
- At least 18 years of age, and, in a few states, at least 21 years of age.
- A high school diploma or equivalent.
- Usually 2-3 years of real estate industry experience.
- Must be a U.S. Citizen. In some cases state residency is required.
- Take specific real estate educational courses, required by the state, at approved educational institutions.
- Pass a real estate brokers exam at a preapproved location.
- Finally, pass a background test, and, in some cases, a credit check will be run.
Property Management License
In the rare case, you only need a property management license, there are a few requirements that need to be met as well:
- Enroll in approved property management course work and continuing education.
- Pass the property managers exam.
- 18 years old, with a high school diploma or equivalent.
- Good standing with the state real estate board.
- Pass a criminal background check.
Author: Tyler Karstensen