Home Buying in San Francisco>Question Details

Ywarda, Home Buyer in San Francisco, CA

I want to get into property Management starting out with just home rentals. Do i just need a business liscense for working on my own?

Asked by Ywarda, San Francisco, CA Mon Dec 10, 2012

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In California, a person who runs a Property Management Company must have a Real Estate License.
A person who does not have a Broker's License, needs to work under a person who does.
A person who has a Business of their own; must have a Business License and a Tax I.D.

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1 vote Thank Flag Link Mon Dec 10, 2012
It depends.

If you are talking about starting a property management business, then yes you need a license if you intend to work on your own.

If you mean you want to own properties and manage them on your own, then no. I have owned properties all over the world. Properties that are farther away I hire a property management company that typically charge me 10% a month of the rent. Properties that I am within 100 miles of I manage on my own.

Hope that helps.

Contact me should you have any further questions.
0 votes Thank Flag Link Thu Dec 13, 2012
Hi Ywarda,

Yes. If you are working on your own, you will need a Broker's license to manage properties.

To be a property manager you will need to be a broker, an agent of a broker, or have a broker of record for your company. Property management is regulated by the DRE.

http://www.dre.ca.gov/pdf_docs/ref24.pdf

There are classes you can take online to qualify you for the Broker's exam.

Feel free to let me know if you have any additional questions.
Hope this helps!

Tracy Ong
Realtor/Sales Consultant
650.520.3502
0 votes Thank Flag Link Thu Dec 13, 2012
You need a real estate Broker License or you need to supervised by someone with a Brokers License. This license is above the salesperson license that most agents have.

The requirements to get a Brokers license can be found on the California Department of Real Estate (DRE) website.

Understand that you are acting as a fiduciary for the owner and holding money in trust for both the owner and the tenant.
0 votes Thank Flag Link Mon Dec 10, 2012
Jed Lane, Real Estate Pro in San Francisco, CA
MVP'08
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