Do you have a property management license? In some areas, a valid license is required to perform work related to property management, including leasing. If you’re interested in obtaining yours, here are five things you might want to know about property management licensing.
It can be a huge boost to your career or business.
Depending on where you operate, there may be very little you can do in the property management field. Getting your license will open a lot of doors in the industry for you, allowing you to advance in your career or, if you’re operating your own business, expand your company’s operations and possibilities.
You’re probably not exempt from licensing requirements.
For some people, it’s natural to ask whether they really need to get a license. The answer is: probably. Who’s required to get a license and for what activities varies by jurisdiction, so definitely feel free to check with local authorities or licensing boards, but know that there’s probably not a loophole you’ll be able to use to avoid the requirements.
You should check what’s required to get a license.
The steps you’ll need to complete to get your property management license are different in different places. Typically, you’ll need to complete an educational course or courses, pass an exam, apply, and pay a licensing fee, but there may be other steps or requirements in some places. You can check with authorities in your state for more information on licensing requirements.
You’ll need to maintain the license once you get it.
Your license will surely expire at some point, and you’ll need to renew it when it does. Most areas have requirements you’ll need to meet to get your license renewed — things like proof of continuing education in the field. Make sure you’re staying on top of the work necessary to maintain your license, and don’t leave it all until the last minute.
You should always be familiar with local real estate laws.
As a licensed professional, it will be your responsibility to understand laws and regulations applicable to your field. Breaking the law could have serious consequences, including license suspension or revocation and even criminal penalties. Stay on the right side of the law by always understanding your legal obligations and responsibilities.