To become a property manager in New York, you must obtain a real estate seller's license from the New York Division of Licensing Services. The key components of property management (renting and collecting rents) are considered real estate activities under current New York real estate licensing laws. If a property manager is going to rent, sell, negotiate the rental of a property, collect rents, or place tenants on behalf of a client owner, he will need a broker's license. A salesperson who works for a broker can participate in such activities.
There are very limited exceptions to the requirement that New York property managers have a real estate broker license. For more information on these and other New York property management requirements and exceptions, contact the New York State Division of Licensing Services. Before hiring a property manager to manage your rental property in New York, you should always check that you have the appropriate license. You can check the license status of New York property managers in the New York Public License Search.
Looking for more information on property law? Explore eviction laws and security deposit laws for property management. There is no requirement for a community association manager in New York to hold a real estate broker license. Stay informed with the latest property ownership news, laws and information from property management leaders. If a property manager in New York is going to collect rent, rent a property, or list a property for sale, you'll need to obtain a broker's license.
However, not everyone needs a license. A salesperson or secretary can work for the property manager and do all of the things listed above without having to obtain a broker's license. . Eventually, they could issue a specific license for property managers in New York, but that's still up for debate.
Even if they do, having a broker's license will still be an important asset to your company. If you're planning to run your own property management company, this can be an excellent referral source for your business. The first step toward a career in property management is to apply to a real estate broker or property management firm for an entry-level position, such as a leasing agent. However, this varies greatly depending on the level of experience, education, certifications, location and volume of properties managed.
In addition, The National Apartment Leasing Professional (NALP) accreditation teaches leasing professionals or sub-property managers the basic skills needed to perform their jobs effectively. The goal is to empower responsible ownership and leasing by providing a variety of resources and tools to landlords, managers and residents. Becoming a property manager is a great career for people who are motivated and passionate about working with people. Once you have a real estate seller's license, you can work with a licensed real estate broker to provide the key components of property management.
It's important to note that licenses generally come from the state level, while certifications refer to national real estate or property management accreditations. So, let's go through a few different locations below and what Glassdoor says property managers can expect to do in that area. Those just starting out in the industry will likely need to apply and work with an established property management firm or real estate broker to gain the necessary experience. Professionals such as those at Bay Property Management Group handle all the daily operations of rental property portfolios, so landlords don't have to.