Property management is the operation, control, and oversight of real estate. It encompasses all aspects of running an income property, from finding and screening tenants to maintaining the property, collecting rent, and handling any issues that arise. This article will explain Florida’s property management licensing requirements, when you can perform property management services without a license and when you will need a license to perform property management services. We will also look at the different types of property management certifications in Florida.
Is There A Property Management License in Florida?
There is no specific property management license in Florida. However, if a property manager performs certain activities, a real estate license may be required. Furthermore, Florida has specific license requirements for Community Association Managers, CAM’s. So, when do you have to have a license to be a property manager in Florida?
Activities That A Licensed Property Manager Can Perform
A property manager or estate manager is a person or firm charged with operating a real estate property for a fee when the owner cannot personally attend to such details or is not interested in doing so. The property may be individual title owned, owned under sectional title or share block company-owned. The property may also be registered for residential, commercial, retail or industrial use.
Under Florida Law, renting and leasing commercial and residential properties is considered real estate services. If a person in Florida provides these services for another person and receives a commission, they must have a real estate license.
Florida State requires property management companies to be licensed real estate brokers if they are collecting rent, listing properties for rent or helping negotiate leases. A property manager may be a licensed real estate sales associate. The sales associate must be working under a licensed real estate broker in these circumstances. Most states in the United States have a public license check system online for anyone holding a real estate salesperson or real estate broker’s license.
Property management can be a lucrative career to follow. In Florida, the average annual income for a property manager is $54,455, according to Indeed.com. This is 9% above the national average.
If you want to become a property manager in Florida and require your real estate license, you will first need to complete your pre-licensing education for sales associates. Follow the link to view our online courses & save with our special offers now! Pre Licensing Sales Associate Course.
Activities That An Unlicensed Property Manager Can Perform
Some property management services can be provided without a license in Florida, but only under specific conditions.
Owners who manage their own property are exempt from the requirement of obtaining a real estate license. However, owners who do not live near the rental property may be required, by the local government, to hire the services of a property management company.
A person employed as a manager of a cooperative or condominium and is paid a salary is not required to hold a real estate license on the condition that the properties are rented for less than a year.
A person that rents or advertises temporary accommodation or public lodgings does not need a real estate license. This rule also applies to partnerships, corporations, or other legal entities.
An employee that receives a salary from a registered broker or a property owner of an apartment community does not require a license if they work on-site performing leasing activities for the apartment community.
A corporation and its employees are not required to be licensed if they are leasing property owned by the corporation.
Agents that work in mobile home lot rentals are not required to hold a license.
In the State of Florida, practicing unlicensed real estate services is a third-degree felony. A third-degree felony is punishable by up to 5 years in prison and a maximum fine of $5,000.
Property managers are permitted by law to offer a maximum $50 referral fee to unlicensed individuals for rentals. This referral fee is only applicable to rentals and does not include any other real estate services.
Property Management Roles And Services
One important role of a “Property Manager” is acting as a liaison between the ownership or asset manager and the actual tenant/leasee tenant, providing a buffer for those owners desiring to distance themselves from their tenant constituency. The services required in the specialism of property management will include a minimum of these basic primary tasks:
- On-site Interior Inspections
- Tenant Screening
- Email Move Out Inspections
- Cost-Effective Maintenance
- Collecting Rents
- Reporting to the Property Owner or Company
What Property Management Certification is there in Florida?
In addition to obtaining a real estate license in Florida, there are organizations that property managers can join or obtain certification to progress their careers. These organizations include:
If you are looking to take your first steps in becoming a property manager in Florida, and you need to get your real estate license, enroll in our Pre-License Real Estate Course today and begin your new career!
Learn more about getting your Florida license by following the link to our easy guide on How to Get Your Florida Real Estate License
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