When do you need a real estate license to manage a property?
Every situation is unique, so it's always advised to consult with your state's department of licensing. Under the Michigan Public Act, anyone who engages in property management* MUST obtain a Michigan real estate license under the definition of either salesman or broker.
- No license is required for direct employees acting on behalf of the property owner.
- If activities are limited to areas such as property upkeep or bookkeeping functions, and do not include leasing or renting of the property, a license is not required.
*By definition, property management is the leasing or renting (or offering to lease or rent) a property for another (individual or business) for a fee, commission, or other valuable compensation pursuant to a property management employment contract.
Have questions about property management?
Visit the Michigan Department of Licensing and Regulatory Affairs Website or contact them at (517) 373-8068.
Disclaimer: The comments below neither reflect nor express the opinions of the Michigan Real Estate Academy (MREA) or it's affiliates. The MREA advises individuals to contact the Michigan Department of Licensing and Regulatory Affairs with any and all questions regarding licensing law and regulations.