Tips on managing properties for the first time

[Nick Troutman]

Do I need any sort of license or anything to manage my own properties? What if I was to hire someone to help me? Any tips on how to screen the tenants? What are the biggest pitfalls I should look out for? 

[Kevin Epp]

You do not need a license (like a brokers license) to manage your own properties.

However, check your town to make sure you don't need a business license.

In Tacoma, WA, as an example, even if you have a property manager, the owners themselves also need to have a Tacoma business license.

If you hire a property manager, they will need a brokers license to manage other people's properties.

Good luck!