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Ely
Ely, Counselor at Law
Category: Real Estate Law
Satisfied Customers: 87171
Experience:  Qualified attorney in private practice including business, family, criminal, and real estate issues.
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My family and I own rental property. I manage and rent them

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My family and I own rental property. I manage and rent them out. I have some friends who own properties and would like me to manage them. I am not a licensed real estate broker. Is it legal for me to do so and charge for my service?
Submitted: 11 months ago.
Category: Real Estate Law
Expert:  Ely replied 11 months ago.
Hello friend. My name is XXXXX XXXXX welcome to JustAnswer. Please note: (1) this is general information only, not legal advice, and, (2) there may be a slight delay between your follow ups and my replies.

On this website, I do not always get to give good news, and I am afraid that this is one of these times.

Is it legal for me to do so and charge for my service?

I am afraid not. California requires property managers to have or work under someone who holds a real estate broker's license. (The only exception to this law is for property owners who manage their own buildings.)

A broker's license is required for any person or company that, for compensation, leases or rents or offers to lease or rent, or places for rent, or solicits listings of places for rent, or solicits for prospective tenants, or negotiates the sale, purchase or exchanges of leases on real property, or collects rents from real property, or improvements thereon.

California Department of Real Estate will require anyone who is not managing their own building to have a license, or, work under someone that does.

I am sorry.

Please note: I aim to give you genuine information and not necessarily to tell you only what you wish to hear. Please, rate me on the quality of my information and do not punish me for my honesty. I understand that hearing things less than optimal is not easy, and I empathize.

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Ely, Counselor at Law
Category: Real Estate Law
Satisfied Customers: 87171
Experience: Qualified attorney in private practice including business, family, criminal, and real estate issues.
Ely and 3 other Real Estate Law Specialists are ready to help you

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