In most states, an agent's license is sufficient to serve as the manager for a residential property, however--and this is the big "however"--in most circumstances, you cannot run the management company through your own DBA or corporation; it must be run through the broker's office where you work. In other words, the broker's company name and address must appear on the rental agreements, the management agreement and the rental checks that are sent over to the office. To avoid having to make the residential rental company a "part" of your employing broker's business, you must usually be a broker.
For more information on the requirements for management, talk with your State's real estate licensing department or your local Board of Realtors. Good luck!!
Grace Morioka, SRES, e-Pro
Area Pro Realty