Starting a Property Management Company without License
I am interested in starting a property management company. I have extensive experience owning and operating a property investment company and would like to scale my business by helping others. I do not have a license in real estate. I do however have a strong relationship with a couple real estate brokers.
Would it be possible for me contract out the leasing portion of the business through one of my real estate broker's? I am thinking I could give them the 1st month rent fee to handle this component of things. Thoughts?
Most Popular Reply
Alex
Everyone is giving you answers that are based on you being an agent for the landlord. A more profitable way is for you to master lease the property for say a monthly amount of $100 and then you basically sublease the property for $120, no license required because you are acting as a principle not an agent, just like wholesaling. All the states I have looked into allowed this even though the local agents screamed it was illegal but they were wrong. Unlike a licensed property management company You absorb the vacancies and some items, not the owner.