Property managing for friends

[Rousner E.]

Looking for opinions about becoming a property manager for a coworker, without having a brokers license. I would not be responsible for getting a lease under contract. They would hire a real estate agent to get a tenant into the house and after that, I would come in and manage it for them because they are leaving the state. 

[Paul Ronto]

@Rousner E. I'd be hesitant to be honest if I was in your shoes. Like Nicole said, there are a lot of laws that regulate property management itself but also surrounding the act of tenant screening and who you rent to. If you just think you're doing them a favor or looking to make a quick buck on the site neither of those will probably happen. You'll be dealing with tenant issues at odd times and on weekends possibly, so ask yourself if you're up for that if you are doing this as a "favor" and what your time is worth. 

Also, there's a possibility of getting entangled in a legal issue at some point from issues like evictions to owner/tenant disuptes to fair housing issues, so if you are going to take this on, again like Nicole mentioned, be sure you are aware of all the laws surrounding rental property. 

If you got all that down though, I can be fruitful, but profits disappear quickly when things end up in court.