Rentals in Philadelphia>Question Details

Ebony Phoenix, Other/Just Looking in Washington, DC

In Pennsylvania, are there any risks with obtaining property management services from someone who is not a licensed realtor?

Asked by Ebony Phoenix, Washington, DC Thu Sep 9, 2010

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Hi Ebony,

James makes a good point. Aside from the fact that a licensed Realtor will usually have more knowledge of the market, Realtors are accountable to the Pennsylvania Real Estate Commission. Should you ever have a dispute with a Realtor, before you hire an attorney to file a lawsuit, you can file a complaint with the RE Commission. If your accusations are proven true and there was any unethical, illegal, fraudulent, or deceptive behavior from that realtor, his/her license could be suspended. If there is a monetary judgement awarded to you, the State Fund pays the claim and that licensee will not be re-instated until that judgement is paid in full.

There are many other reasons that you should hire a licensed Realtor. Knowledge. Experience. Performance. You want to hire someone who will lookout for your best interests in pursuit of the highest ROI (Return On Investment) possible. A bad property manager can cost you a bundle.

Please feel free to call me with any questions and/or to discuss working together.

All the best,
Larry Lichtma
REALTOR, Property Manager
Your Real Estate Resource For Life
Direct CELL (267) 254-7994
LarrySellsRealEstate@gmail.com
1 vote Thank Flag Link Thu Sep 9, 2010
There is risk involved with that. For one thing it might be illegal depending on how you set it up, and if you're a landlord using an illegal property management arrangement that will make it very hard for you to ever enforce anything through legal channels. For example - if you want to evict a tenant and you go to court for that the tenant could come back with the argument that you were using an illegal property management set-up and that could hurt your case for eviction.

The other risk is that you have no larger body to appeal to, such as the state real estate commission if the property manager doesn't do their job well. With a licensed property manager you can report them to the real estate commission if they are unethical.

Hope that helps. If you'd like to speak with an excellent, licensed property manager just let me know.

James

James Yoakum - Realtor, SFR
Brown McKinney Real Estate
1631 W. Cabot St.
Philadelphia, PA 19121
office: 215-825-2250 x.1002
cell: 267-496-7739
fax: 610-910-3046
jyoakum@brownmckinney.com
1 vote Thank Flag Link Thu Sep 9, 2010
Whenever you do business there is always risk but in pennslyvania only a licensed broker may do property mangement there may hire people to help them such as leasing agents and other stuff depending on how large the property is . You as a property owner can mange it yourself but u need to get zoning and permitts depending on where the property is what is it's classifications
0 votes Thank Flag Link Thu Sep 9, 2010
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