07-05-2006, 03:56 AM
"Property Management" is defined by the Occupational Code to include " . . . the leasing or renting, or the offering to lease or rent, of real property of others for a fee, commission, compensation or other valuable consideration pursuant to a property management employment contract." It is an activity that requires a real estate broker's license. Salespersons can also perform property management but all activities would be in the name of and under the supervision of the salesperson's broker. No license is required if you own the property being managed, or are a direct employee acting on behalf of the property owner. Also, if your activities are limited to such areas as property upkeep or bookkeeping functions, and do not include leasing or renting of the property, you would not fit the definition of property management and would not be required to have a real estate license.