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Updated over 2 years ago,
Sponsoring broker to start a property management company?
Hi all,
I've recently passed my Illinois broker license exam and am shopping for sponsoring brokers. I'd like to start a small property management company. I already have an LLC, a sole proprietorship, and a small portfolio of commercial properties that I own and personally manage. I'd like to expand and market this LLC to offer management services that include leasing, accounting, capital projects, routine maintenance management, etc...
Am I required by law (Illinois law) to collect management fees through a sponsoring broker? Or do I only need to collect leasing fees through a sponsoring broker?
Thank you for any clarity/advice on this!
- Zak