How Do I Get My Property Management License?

The Bureau of Labor Statistics anticipates a 10% growth in property management jobs within the next 10 years, casting out any doubt that the real estate industry has a growing demand for property managers. If you are an upcoming or an experienced property manager, having a license will increase your possibilities of landing several jobs.  But, the question that most people as themselves is, how do I get my property management license? Here is how.

How to Get a Property Management License 

Each state has its own requirements on property management licensing. Besides, you will realize that the rules guiding licensing differ based on the properties that need management. Be prudent and research your state requirements to know the steps to take towards getting a recognizable license as, in most, you will need a license before starting to operate as a property manager.

Some states require you to have the minimum education requirements such as a GED or high school diploma before getting a license. If going to school seems hard, you can enroll for an online pre-licensing course.  A website such as https://flcaa.com/ can be a great place to start if you are considering property management certification.

Requirements for Acquisition of Property Management License 

For you to qualify for a license as a property manager you must satisfy specific critical eligibilities, with one of them being the completion of a pre-licensing exam. You will need to undertake at least 30 days of education before taking a Real Estate Board set and approved property management exam.

Note that the minimum age limit for licensing as a property manager is 18 years. However, this can change from state to state with the age limit going up to 21 years in certain states. Check out the requirements of your location in approved websites to be on the safe side.

To get started, pay an exam fee directly to the board after applying for the license. Without it, you cannot practice as a property manager in most of the states in the U.S. Just remember that you must maintain certain standards as the Real Estate Board reserves the right to revoke the license in case of a breach of professional conduct in the course of managing properties or brokerage.

What if I Need a Broker License?

If you want to get a broker license, you will need to be at least 18 years, and then undertake an extra educational program with specified classroom hours. The state agency that issues the licenses sets the class time, which can be within any range of 10 to 100 hours. In finality, you will need to pass an exam relating to property management.

Exceptions for Property Management Licensing 

You might not need a property management license if you don’t collect rent or engage in leasing activities. In this case, the roles of a property manager are minimal and less desirable to a property owner. Moreover, you will not need a license if you are a resident manager in an apartment, and the same case applies to your employees.

Getting a property management license will increase your marketability in your state. Research on the requirements based on the level of property management that you desire. While having a license is not mandatory, it will enhance your growth in the career.

 

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