Property Management Licenses : Taxes

[Keeya WangJones]

Hey BP Community!

As I venture into rental property management, I have a few questions:

• 1.) Owner-Occupied Property in Texas: Will I need a property management license if I owner-occupy the property in San Antonio, Texas?
• 2.) Broker Requirement: It seems like becoming a broker may be necessary to obtain a property management license. Is this accurate?
• 3.) Revenue During License Process: I'm eager to get licensed but don't want to lose revenue while awaiting completion. Any advice on navigating this effectively?
• 4.) Operating in Multiple States: If I expand to multiple states, do I need separate property management licenses, or can I operate under one license across multiple locations?
• 5.) Specific Business License: If I create an LLC specifically for the property management side of things, can I obtain a specific business license for this?
  6.) Do I need both a property management license and a business license?
• 7.) Tax Considerations: What taxes should I be aware of for property management services, even if the properties are mine?

I appreciate your guidance and insights on these matters. Thank you for your help!

Best regards,
Keeya