Property Management requirements in District Of Columbia
Must a District of Columbia property management company have a real estate broker's license?
NO. The District of Columbia is somewhat unique in that a broker's license is not required of a property manager UNLESS he or she will be performing any activities that relate to the purchase, sale or exchange of the property, or negotiating a loan on the property. Property managers, however, must pass the DC property managers exam and obtain a property manager license. Those holding broker's licenses need not obtain a property manager license, as the broker's license is considered superior.
According to DC law, a "property manager" means an agent for the owner of real estate in all matters pertaining to property management. "Property management" is the leasing, renting or offering to lease or rent, managing, marketing, and the overall operation and maintenance of real estate. The term includes the physical, administrative, and fiscal management of any real property serviced by a licensee, or his or her employee or agent.
Before hiring a property manager to manage your D.C. rental property, you should always check that he or she is licensed appropriately. You can check the license status of D.C. property managers at Pearson's VUEs credentials management system.
District of Columbia Community Association Manager Licensing
A broker's license is not required to be a community or condo association manager in the District of Columbia. However, the Real Estate Board of the D.C. Department of Consumer and Regulatory Affairs does regulate community association managers as "commercial" property managers.
District of Columbia Property Manager Licensing Requirements
There are no pre-licensing requirements for property managers in D.C. However, there are some eligibility requirements:
Real estate brokers licensed in the District of Columbia are considered to have satisfied the educational and examination requirements for licensure as property managers.
IMPORTANT: This information is intended for informational purposes only and under no circumstances should it be considered legal advice or relied upon without first confirming its contents with your state real estate commission. Laws are updated frequently, and this information may not reflect the current law in your state. To confirm the specific requirements for each state, please contact your state real estate commission.