Property Management Start up

[William Fields]

I own a couple houses and love real estate. I figure the best way to work in real estate full time while I'm building my portfolio would be to start a property management company. I have been lining up potential clients with the intention of launching this year. I took a part time job as a maintenence man at a company that owns about 60 units in my town and a few hundred around the country. 

The only problem I have is trying to find all the responsibilities of the management company vs property owner. What does the fee pay for versus what do I need to charge the property owner for. Any advice would be great. Thanks guys

[Anthony Dooley]

Originally posted by @Darian Richardson:

@Anthony Dooley I am looking to do the same as William, I appreciate your insight. Could you let me know where I can find the laws that you mentioned please?

Also, are you saying that it is legally required to have a real estate license to open a property management company?

 No. You can open a property management company without a license assuming that you exclusively manage property that you own. If you want to manage property for others, you will need to operate under a broker and you will need to complete a property management course. Search the Georgia Real Estate Commission. License law and other requirements are on their website. www.grec.state.ga.us

There is a franchise called Property Management Inc. A friend of mine operates under this franchise. They help set up the business and have brokers that you operate under. They buy, sell, and manage residential real estate.