Property Management: Licensing & Other Requirements

[Deryk Kennedy]

I initially tried posting this in the Indiana Discussion forum, but it wouldn't allow it.

I am, and have been, working on getting into REI, but have been dealing with a significantly bad case of Paralysis-by-Analysis.

In an attempt to start treating, and eventually curing myself from, this horrible sickness, I have decided to get my foot in the door by working as a small scale property manager in the S. Indiana area. Primarily focusing on the tri-county Indiana area north of Louisville, KY. 

I have done some research on the necessary steps to officially get into this field, but through discussions with Realtors & wannabe Realtors, I now feel more confused than I had previously. 

It is my understanding that some laws have recently changed that greatly altered the process for obtaining licensing. I know of a few individuals who had significant issues with the process to the degree that they had taken nearly all their course work but were then told that due to changing laws they would have to start over.

I would like to get advice from you all regarding both the field of Property Management, in general and specifically in Indiana, and in the licensing and additional requirements that I may, as of now, be unaware of to professionally perform in this arena.

NOTE:

I am currently unable, financially, to make this my primary day-to-day job, so will have to work it around my current career that represents 10 hrs/day during the week. It's understandable that this greatly reduces my opportunities.

I'd like to thank you all for your comments and questions and hope that this thread will be of assistance to others wishing to develop their knowledge in this specific area.

[Erik Hitzelberger]

@Deryk Kennedy  In Kentucky, unless you meet one of the exceptions, you have to be a licensed real estate agent to manage properties for others.  (You can work as an assistant to an agent someone without a license).  The guidelines for getting a license in KY are on the KREC website.  KREC (dot) KY (dot) gov.  Since IN/KY licenses are reciprocal, I imagine the criteria is similar.