Property management laws in Kentucky

[Zack Dunn]

Hey everyone,

Questions about laws in KY with regards to property management. I wanting to start my own property management company and eventually purchase my own properties. I already own an LLC by which I can operate under. I have read that it is required to have a brokers license to manage property in the state of KY.

So I have a couple of questions for others involved with management in KY. Is this true and is this the bottom line on the issue? Is there anyway around this via loopholes of any kind? Also if a brokers license is unavoidable, given that it has a 2 year experience as a licensed realtor requirement, what is the best way to go about doing this without taking on a career as a realtor?

Thanks

Also any other advice on the subject that wants to be given is more than welcome!

[Jared K.]

@Zack Dunn Yes, technically you are required to be an agent and work under a broker to do property management from what I have seen also. I ran into these same hurdles here in Ky myself several years back. I know many people who have done management with NO license by having their clients appoint them as a "representative" for the actual owner. I am assuming the owner and the representative had a written contract for payment, which would be best.  The paperwork states "representative" for the person doing the managing and they sign docs, deliver and all but the letters etc state the company that is actually doing the lease which is the owner of record for the property. 

Their may be other ways to do this as well but this one is a common one that works in my area.

Jared