Real Estate Broker Partner

[Cody Dawson]

I am getting into property management company of STR's outside of the doors that I personally own. It appears as if in Ohio, in order to be a property manager for a place you do not own, you must be a real estate broker, of which I am not. I have heard that you can partner with one, similar to how agents partner with a broker for listings. Currently, this is a small operation, 4 doors, but intending to grow. Does anyone have a recommendation for a local broker that might be interested in partnering as I am starting out?

The only other workaround I am familiar with is if you don’t actually collect revenue and the owner still does, deposits in their own account, and pays you monthly. However, that is not exactly attractive for passive investors. 

[Patrick Drury]

@Cody Dawson
As you mentioned depending on how you structure your STR management company you shouldn't even need a broker. If you operate through Airbnb the owner can collect the revenue and all you do is supply guest services if you are not collecting revenue and change for services rendered. I would beg to differ on the remark that it's not attractive to passive investors. A co-worker of mine @Marc Rice does the exact same thing with around 100 doors and people beg him in Columbus to take on their properties and are glad to partner with him on deals because of his expertise. I don't think investors will be turned off by that. If you are really good at what you do people will throw money at you and want to partner with you/ invest in you. As always consult with a local attorney maybe things are different in Cleveland than in Columbus.