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Updated over 3 years ago on . Most recent reply
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Property management duties
Hi! I am seeking advice. I have been managing my own rentals for several years now. Recently, i have had close friends come to me who want me to manage their multi units. I have been individual that has always looked for advice in alost every area of life. Ive google PA and noticed that a real license is required for "property management". Is there a way to provide this kind of service without getting licensed? My duties would be reducing vacancy, collecting rents, screening/choosing tenants, Maybe be paid on a 1099? Please help
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Nope. To call yourself a Property Manager, in most states you need to be licensed. There' a lot more that goes into being a PM or properties that are not your own, especially the liability piece on your end. If something goes wrong in a property you're "managing" and you screwed up somehow, it's amazing how quickly your close friends will turn on you and you end up in court. If you want to be a PM, then go through all the channels you need to and protect yourself.
- Dave Poeppelmeier
- Podcast Guest on Show #380
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