Do you need to be Licensed in Maryland to Manage Real estate?

Question

I am a licensed Broker in Florida, and have been asked from one of my current clients if we would be interested in taking on a large portfolio for them in Maryland. Receiving conflicting information?? Do you need a Real Estate License to lease and manage for others for compensation, and/or do you need to work under a Broker in Maryland to manage. confused????

Mija Aguilera · Answer

You DO NOT need to be Licensed in MD to manage or lease Real Estate!

As @RussellBrazil pointed out, it’s important to be mindful of the city limits between DC, Maryland, and Virginia — they’re all in close proximity, and it’s easy to blur the lines!

Brian Pendergraft · Answer

Maryland real estate attorney here.

Md. BUSINESS OCCUPATIONS AND PROFESSIONS Code Ann. (Maryland Real Estate Brokers Act) § 17-301. (License Required)

(b) Exceptions. -- A license is not required for:

(4) an agent of a licensed real estate broker or of an owner of real estate while managing or leasing that real estate for the real estate broker or owner;

Attorney P's interpretation - Therefore, property owners can directly hire non-real estate brokers to manage their rental properties.

Attorney P's Recommendations - You can either file as a foreign entity doing business in MD or start a new business in MD. I think it would be wise to consider starting a new non-broker MD business and keep it separate from your FL Broker Business.

Make it clear that you're not licensed in MD and cite the exception for property management in all documents.

Get County specific MD lease agreements and property management agreements.

Find an experienced MD attorney if you need any additional help. ;)

Russell Brazil · Answer

You do not in MD. You do in DC. If it is a part of MD that is in the DC metro area, then practically speaking in order to run your business you would need to be licensed in DC. A client is not going to pick a property manager that can only manager their MD properties but not their DC properties.

Kim Meredith Hampton · Answer

@Brian Pendergraft love it!!! Hopefully we can meet up if we take on this portfolio

All the best and thanks for reaching out

Kim Meredith Hampton · Answer

@Russell Brazil this really confuses me, after the conversation Friday with the Maryland RE commission, I was told that I do not need a Real Estate or Brokers License to manage property for owners. I will not be selling real estate, only managing for others???

Russell Brazil · Answer

While you don't need a license in MD, you do need a PM, brokers or associate brokers license in DC to manage property....and depending on where in MD the properties are, you might by nessecity need to include DC as a practical matter.

Brian Pendergraft · Answer

@Kim Meredith Hampton yes. First case I ever won was helping a landlord and I've been helping landlords ever since. I even wrote a book for landlords! :)

Kim Meredith Hampton · Answer

@Brian Pendergraft thank you, much appreciated! We spoke with the Maryland RE Commission on Friday, and were given the same information.

Do you specialize in the Landlord tenant laws for Maryland? We have one 2 RE attorneys on retainer here in Florida, very helpful with our litigious society!!

Kim Meredith Hampton · Answer

Thanks, I found that too, but thought I would check to see if anyone is from there and had an idea!! Maryland RE Commission next call!

Have a great week

Jay Hinrichs · Answer

quick google search said NO license required but it also said to double check with the state.

Do you need to be Licensed in Maryland to Manage Real estate?

Do you need to be Licensed in Maryland to Manage Real estate?

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