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 Can someone manage property without a license?

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jamesbradley

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Posts : 58
Position Held : Int'l Corporate Transactional Attorney

20110310
PostCan someone manage property without a license?

The question was asked, "I would like to act as a property manager for clients but I don't have a real estate license can I enter into a lease agreement with the property owner, have equitable interest in the property there for act like a property manager?" The answer is a grey area and the ruling authority will try to prove a breach. The key is the ownership. It is generally understood that a party who owns property can manage his own property. Therefore, having some ownership in the property and a contract between the property owners where one manages on behalf of the other owners is within the defintion and rules. In fact, that is defined under the Federal Rules under the Tax Revenue Rules as Active participation (i.e. active income) as distinguished by "passive" participation (and "passive income"). However, States can interpret and establish their own rules when it comes to land located within the state. Florida is very conservative because of the huge retirement community. But, again, the key element will be the equity ownership to be within the RE Management Licensing Rules under Florida law.
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