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Updated almost 10 years ago on . Most recent reply

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Brin Weins
  • Cherokee, IA
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Property Management question

Brin Weins
  • Cherokee, IA
Posted

I'm hoping this is the right place for my question!

My father is currently in the process of buying a multi-unit building in my area (he lives in another state). He wants me to do the property management, since I have previously worked in Property Management Accounting for one of the major RE companies (as well as many many years of customer service). Granted, I have a lot to learn and to research, but I believe I would be able to do well.

My problem is this: I am finding/getting conflicting information as to what I need to do in order to be the property manager. I need a broker's license, no I don't need a broker's license if I'm a resident manager, or no I don't need one at all. And that's after looking for state-specific answers. 

My husband had an idea to maybe get around the needing a license issue - if my father made me part owner in his LLC (at even 5% stake), that should be enough to allow me to do the managing for his LLC (rather than through our own).

Thoughts, suggestions? 

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