Property Management requirements in Arizona

Must Arizona property managers have a real estate broker's license?

YES. A broker's license is required for any person or company who, for compensation, engages in the lease or rental of real estate in Arizona, who offers or lists real estate for rent or lease, who collects rent for the use of real estate or who negotiates the rental or leasing of Arizona real estate. A salesperson working under a broker may engage in such activities.

Must Arizona community association managers have a real estate broker's license?

NO.

Arizona Real Estate Broker Requirements

You must be at least 18 years of age when applying for a license.

You must have at least 3 years of actual experience as a salesperson or broker during the 5 years preceding your application. Each broker who employed you in the previous 5 year period must complete a Broker Candidate Experience Verification (available at the Arizona Department of Real Estate website).

A Candidate Informational Bulletin ("informational brochure") and a Certification Questionnaire may be obtained from the following places:

• The Arizona Department of Real Estate office (602-468-1414, ext. 101)
  
  
• The Arizona Department of Real Estate website
  
  
• Thomson Prometric's website (the company that administers the state license exam - you may also phone them @ 1-800-899-4091).

If applying for a real estate license, you must complete 90 hours of pre-licensing education and pass the examination at a real estate school, college or university; you will receive the informational brochure and Certification Questionnaire from the school you attend. Disclosure and documentation concerning your background is required.

When your experience has been verified, and you have passed the school's exam if you are a real estate applicant, contact Thomson Prometric (1-800-899-4091) to schedule your state examination. You must take your Department-approved Broker Verification forms and photo ID to the examination. If you are a real estate applicant, also take your Education Certificate.

You have 1 year from the date you pass the state examination to apply for your license, unless your experience is only "valid through" a sooner date. To apply for your license, submit your pass-score/application form(s), completed fingerprint card, completed Certification Questionnaire, Broker Verification form(s) and the license fee.

Licensed real estate brokers must attend a Broker Management Clinic as follows:

• Original real estate broker applicants prior to licensure.
  
  
• Associate real estate brokers prior to changing status to an active-status designated broker, unless the broker has taken the course in the preceding 23 month period.
  
  
• Each active-status designated broker must attend a broker management clinic once every two-year licensing period.

Arizona law also requires that property management agreements contain specific provisions, that all property management accounts are designated as trust accounts, and that records be kept in a certain manner. 32-2171.