Can an HOA employee handle leasing since I am basically paid by the owners through their HOA dues?
And therefore, most states (though not all) require a real estate license – frequently a brokers’ license, which is one grade above a typical garden-variety real estate agent’s license – to handle leases. That is, to execute (sign) a lease on behalf of the landlord or property owner, or to explain any of the terms of the lease to a prospective tenant, most states will expect you to maintain a license.
That said, many states carve out an exception for an employee who works for a single owner and who is paid by salary, rather than by commission. And yes, Texas is among them, on two counts:
- Salaried employees of property owners need not have a real estate license for managing or leasing property owner by his or her employer. The key word there is “salaried.” You cannot draw a commission.
- There is no requirement that community association managers and condo association managers in Texas hold a real estate broker’s license. Indeed, the licensing authority, the Texas Real Estate Commission, doesn’t even have authority over homeowner associations or association management companies.
So as long as you are clearly in the employ of a homeowners association (are you receiving a W-2? Are you salaried rather than commissioned?), then you should be in good shape. It won’t hurt to get that license, though. The education requirements and ongoing continuing education will probably serve you well, and if you are a quality manager, you should have a lot more options with a real estate license than without one!
Writing about personal finance and investments since 1999, Jason Van Steenwyk started as a reporter with Mutual Funds Magazine and served as editor of Investors’ Digest. He now publishes feature articles in many publications including Annuity Selling Guide, Bankrate.com, and more.