Becoming a Licensed Property Manager in Pennsylvania

[Tim Porsche]

Hi All,

I've been managing my own rental properties (currently have 6 units) for the past 5 years with good success and lately have become interested in managing properties for others as a way to create an additional stream of income. My plan would be to start small (managing 10-20 units) and take on more clients once I get a better feel for the business and see how things are going after a year or so.

 As I understand it, in PA you either need to be a licensed broker to do this, or else have your real estate salesperson license and then work under a broker. My questions are...

1. Is it worthwhile to go through the whole process of becoming a broker just to manage others' properties?

2. If you go the route of getting your real estate agent license and work under a broker, what sort of monthly/annual fees is normal to pay the broker in order to engage in the property management business under them? 

3. If working under a broker, would you be able to set your own rates and policies and run your business as you choose? Or does the broker do all of that while you work more as an employee under them?

4. How much in annual fees would you need to pay as a broker? How much in annual fees if a licensed real estate agent?

Thanks in advance for any feedback!