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Updated almost 6 years ago on . Most recent reply
Property Maintenance Question\ Real estate licence needed?
I started a business of Property maintenance and lawn care about 7 years ago. I was just fixing things inside and out of residential homes. Like a regular construction contractor. I mow commercially an residential. I do just about anything. My question is recently i had a property owner confront me to take over all the maintenance duties at his 12 plex. In doing research there is a grey area on if i need a Realtors licence to do this. I will not be negotiating any leases. Nor signing any. Also rent collection will be done by the owner. Most are mailed directly to them. If i need to pick up rent ever, could i hire a local realtor from a company to do so for a fee? I have no thoughts of ever getting into selling of homes. My niche is fixing things. I enjoy it. I wont be getting huge as im solo with my retired father helping assist me.
So my main question is , am i ok with what i could do if i except his proposal. And if i ever needed paper work done or rent collected in case of his vacations, or he couldn't make it at a certain date. Can i just Sub out a Realtor to take care of those transactions.
I don't really want to become a Realtor and deal with all the continuing education. Fees for everything that i have seen. When i most likely will never need.
Unless i'm missing something and i just need to take the test. I read i have to be under a broker, and they get a percentage of what i do as a maintenance contractor. which to me don't seem right.
I live in Iowa.
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@Ryan B., kudos to you for making sure you do it legally and correctly.
I'm not a lawyer nor know Iowa laws, so you'll have to confirm. However in most states what you are talking about should not be an issue. You work directly for the landlord. Regulations will prohibit you from certain tasks, which you seem to have named the main issues like discussing rent and executing leases. That doesn't prohibit you from maintenance and coordinating with the tenants for the maintenance. Heck, property management companies commonly have assistants who aren't licensed help with the coordination themselves.