starting a property management business

[Timothy VanWingerden]

I'm looking into the possibility of starting a property management business and I understand that in the state of KY I am required to have a brokers license in order to manage other people's property. Just wondering if I need to be that broker or if I could hire someone to be an officer within the company that acts as the broker.

I'm reaching out to some attorney's in the area, but just wanted to see if there are other alternatives available that I am not aware of.

[James Wilcox]

@Timothy VanWingerden ok I can answer this offically for you. I called the KREC and they found the answer for me (don't know why you had a problem). Kind of what they do lol. If you want to be the "owner" of the PM company you need to be a broker. If you want to be a property manager you can be an agent with a license working under a broker but you would not be the "owner" of the PM company. That should do you man. Ultimately you will need to get your license, then become a broker to even start being a owner of a property management company in Kentucky. I was probably thinking of just being a property manager and not the actual owner of the company. Below document will help clarify as well.

https://krec.ky.gov/legal/Documents/KRECLaws.pdf