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Updated about 5 years ago,

User Stats

73
Posts
39
Votes
Nicholas Bolcon
  • Coventry, RI
39
Votes |
73
Posts

Property Management Side Gig

Nicholas Bolcon
  • Coventry, RI
Posted

Hey BP community,

I have a question on making sure I am doing things the right way.  Myself and my investing partner currently have a duplex that we self manage.  Her boss is moving out of state and approached us asking if we would be interested in managing her house as a rental rather than selling it when they move out of state.  This is a pretty nice house, it would probably rent in the 2k/month range so it would be decent side income for us and its close enough to the duplex we currently manage and also to work that it wouldn't be inconvenient.  

Now come to find out Rhode Island (and many other states) require you to have a Broker's license to manage property that isn't yours.  Neither me nor my partner have a real estate license right now.  I am wondering if there is any simple (and hopefully legal) way around this?  Can they technically manage it and just pay us to go over there and help them out with screenings and such?  It seems like a good opportunity to expand our experience but it doesn't seem worth going through a broker and at only two properties its not worth trying to form a management company yet.  Any advice is appreciated.

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