Property Management - Indianapolis- Manager Must Be Licensed

[Derek Gendig]

In response to many BP conversations we've had and phone calls we receive regularly regarding management services here in Indianapolis, we found that many out of state / out of country investors are not aware that in the state or Indiana, you must hold a real estate license in order to provide management service for third parties.  Here is a link to the code that reads as such: IN CODE Section 25-34.1-3-2.

(3) section 11 of this chapter;

no person shall, for consideration, sell, buy, trade, exchange, option, lease, rent, manage, list, or appraise real estate or negotiate or offer to perform any of those acts in Indiana or with respect to real estate situated in Indiana, without a license.

- See more at: http://codes.findlaw.com/in/title-25-professions-a...

Here is a link to all Indiana codes for anyone interested: Indiana Real Estate Commission Laws and Regulations.

With that being said, if you're considering a manager/management company here in Indianapolis, you can check to see if they are licensed here: Indiana Professional Licensing Agency.

From the IPLA site, you can search both an Organization or an Individual.  From the IPLA, select Get Started under Search & Verify.  From there, you can select the following "Click here to search for a Facility, Business, Salon, Corporation, CE Provider, etc. instead of a person." to the left of the drop down menu.

Please know that this is not an attempt to disparage any individual, organization or group. This is about informing the public.  Many member's of BP and the Indianapolis Real Estate Community work very hard to maintain a standard of ethics, honesty & integrity.  

People from all around the world choose to invest in Indianapolis.  Many do so by cashing out retirement funds, college funds, taking 3rd jobs, etc. to realize their dream of passive income and many hope to leave a legacy for their families.  Far too often, we hear horror stories of mismanaged properties and down right theft.  Do what you can to vet your manager here and continue to educate yourself not only on the city of Indianapolis, the property your interested in but also on the people you select to be your partner in business.

“Take calculated risks. That is quite different from being rash.” — General George Patton