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Management Law

Having a dispute with a tenant or landlord? Rental Law discussion

Management Law

Postby Enapay » Thu Dec 01, 2016 11:54 am

Hi, I was trying to find out if I need a real estate license in Virginia to be a residential property manager.Any info. would be great. Thanks!
Enapay
 
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Management Law

Postby Durante » Sat Dec 03, 2016 12:29 pm

Hi, I was trying to find out if I need a real estate license in Virginia to be a residential property manager.Any info. would be great. Thanks!
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Management Law

Postby Li » Sun Dec 04, 2016 8:10 pm

Hi William and thanks for your question.  First, most states within the United States will require a residential property manager to be a licensed real estate agent(working under the supervision of a broker) or a licensed real estate broker.  Some states have slightly more stringent rules than others--for example, some of the states no longer have the classificiation of "salesperson" and require all individuals involved in real estate transactions to be brokers--but most will require the real estate manager to be licensed in order to be paid for their services as a manager.  

Virginia's Department of Professional and Occupational Regulation(DPOR) website, Real Estate Board(www.dpor.virginia.gov/dporweb/reb_main.cfm) has a link to the Virginia Code of Professions and Occupations, Chapter 54.1, Section 2103, which provides a list of the only real estate related activities allowed without a license.  Unfortunately, unless you are planning to manage property without compensation(in other words, for "free"), you will need a license from the DPOR before engaging in any residential property management activities.

The DPOR Real Estate Board site has both helpful information and facts about how to obtain your license.  Plese note that there have been changes to the educational requirements for licensing in your state, so you will be required to clock additional education hours prior to sitting for the test than had been required previously.  Check out the website, and for information about licensing, contact your local Virginia Association of Realtors for assistance.  You can reach them at www.varealtor.com.  Good luck!!
Li
 
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