Creating a Property Management Company As a Realtor in Illinois

[Sebastian Gomez]

Hi everyone,

I am looking for some advice on how to form and operate a property management company in Illinois as a realtor. 

I currently am a realtor in Illinois and I operate my business under a LLC. How would I need to structure my LLC in order to open up a property management company?

Thank you in advance!

[Drew Sygit]

@Sebastian Gomez according to this: https://www.allpropertymanagement.com/resources/property-man...

One must have a Real Estate Broker's license to operate as a PMC in Illinois.

You've stated you have an agent license, so, legally, you will have to run your PMC commissions through the real estate broker you are operating under.

Your broker may also need to modify their E&O Insurance to accommodate your PM activities.