south florida rental property management

Although property management can be profitable, it is, however, not easy. Considering the series of legal regulations that control activities such as how landlords and property management companies must handle tenants and how they should maintain properties; property management entails a lot of things.

If you’re a prospective landlord in Florida, it is important that you understand the state legislation that binds property managers. This will come in handy for those who have managed properties in other states since what is applicable in Florida is different from other locations.

If you’re planning to go into property management, this article will help you know what is expected in Florida.

A Florida Property Management Company Must Have a Real Estate Broker’s License

The major components of property management are seen as real estate activities under Florida real estate licensing laws. Thus, a property manager must have a broker license if he or she earns a commission and also manages properties for others.

There Are Exceptions To The Requirement Above

There are exceptions to the requirement that a Florida property manager must have a broker’s license. For instance, if a landlord hires someone to manage his or her property and the employee is paid a salary (instead of a commission), a broker’s license is not necessary.

You must check that a property manager is licensed appropriately before hiring him or her. This can be done at the Florida Department of Business and Professional Regulation’s Licensee Search webpage.

Florida Community Association Managers Do Not Need a Real Estate Broker’s License

A Community Association Manager license is only required if someone is compensated for providing property management services for:

• An association that has at least 10 units
• An association that has a budget of at least $100,000

Requirements For Florida Real Estate Broker License

The following conditions must be met to have a real estate broker license in Florida:

• The individual must be at least 18 years of age.
• He or she must have a high school diploma or equivalent
• He or she must have held a current real estate sales association license for at least 2 years during the 5 years immediately before becoming a licensed broker.
• He or she must have successfully completed a Florida Real Estate Commission-approved pre-licensing course for brokers.
• He or she must pass the Florida Real Estate Broker Examination with a grade that is not less than 75.
• The necessary fees include an application fee ($20), a license fee ($90), and an unlicensed activity fee ($5).
• He or she must have completed and submitted a broker license application that is available online.

 

Requirements For Florida Real Estate Salesperson License

The requirements include the following:

• The individual must be at least 18 years of age.
• He or she must have a high school diploma or equivalent.
• He or she must have successfully completed a Florida Real Estate Commission 63-hour sales associate course.
• He or she must be trustworthy and must submit fingerprints.
• He or she must pass the Florida Real Estate Sales Association Examination with a grade that is not less than 75.
• He or she must have paid a fee of $105.
• The individual must also complete and submit a sales associate license application that is available online.

Feel free to get in touch with the Florida Real Estate Commission for more information on the property management laws in the state.