Property Management Legal Requirements

[Kyle Godbout]

I have a quick question for anyone that might know. I am a property manager for my own properties and some of my families in Omaha, Nebraska. I'm currently in the process of getting my brokers license so I may evolve into a larger pm business. In Nebraska you have to have a real estate license to manage other people's properties. But if I'm licensed, can I hire someone to manage a property (without a license) as long as I receive and take care of all monetary transactions?

[Dale Arrants]

Key components of property management (renting, leasing and collecting rents) are considered real estate activities under existing Nebraska real estate licensing laws. If a property manager is going to lease, rent, list, collect rents, procure prospects or negotiate, assist, or offer to perform any of those acts, he or she will need a broker's license. A salesperson working under a broker may engage in such activities.