It is interesting to note that property management is completely different depending on which state you live in. For example, in most parts of United States property management comes under the jurisdiction of the state government. Each city or township does have the ability to introduce explicit bylaws to help regulate specific issues in their area.
For years in Ireland, there was no legal responsibility or obligation to create a company for managing real estate properties. There were however property management companies that managed and supervised multi-unit developments. These type of property management personnel followed the rules and regulations set out by the owner and his administration.
Recently, since 2012, property management registration and licensing has become mandatory for any property service provider. This includes all property management firms throughout Ireland. These firms are licensed by the Property Service Regulatory Authority of Ireland.
Some US States Don’t Require a License
In the United States, there are a few individual states such as Vermont, Idaho, and Maine that do not require a property manager to have a real estate license. Montana, South Carolina, and Oregon will allow a unlicensed property manager to work under the umbrella of a licensed property manager. This allows him to do property management without obtaining a broker’s license.
Washington State on the other hand insists that all property managers have a real estate license from the state if they are not the property owners. New Zealand is a country that has both licensed and unlicensed property managers. The licensed property manager will require certain skills and knowledge for managing property for rent whereas the unlicensed property manager requires nothing in all.
Self-Managed Rentals Requires a Business License
An owner who manages his own vacation home rentals will not be required to have a real estate license in most states. However, if they decide to rent out any of their dwellings they will need a business license from their Township. If an owner does not live close to his property he may be required to retain the services of a property management firm.
California requires all 3rd party apartment property managers to have a license. The license will be with the California Real Estate Department and they will be licensed as a broker. In California, a broker is a company or person who leases, rents, negotiate sales, purchases, exchanges, or collects rent.
A profession as a property manager is a good choice because of the many opportunities there are around the world. If you consider yourself a good organizer and communicator, a career in property management might just be the ticket for you.