Property Management requirements in IllinoisMust Illinois property managers have a real estate broker's license?A person needs a real estate license if they provide assistance which is in any way intended to result in the sale or lease of real estate. The definition of the word "broker" in the Illinois Real Estate Act provides 11 examples of the types of "assistance" that require a real estate -license. Included are: representing clients in the negotiation of real estate sales contracts or leases, and issuing advertisements for the sale, purchase or lease of real estate. Therefore, property management activities that involve general administration, like contracting for property maintenance (garbage pick-up, etc.) and paying general expenses (utilities, etc.), do NOT require a real estate license. Serving as an accountant for association dues also does not require a real estate license. Only those property management activities that involve a conveyance of real estate by contract or lease require a real estate license. Accordingly, property management activities that require a real estate license include: showing a unit for sale or lease, negotiating lease or real estate contract terms, maintaining security deposits, rent payments or earnest money deposits. Illinois is unique in that it does allow property managers to obtain a "leasing agent" license to be used only for residential leasing activities. Leasing agents must be sponsored and employed by a sponsoring broker. Must Illinois community association managers have a real estate broker's license?NO. A broker's license is not required to manage community associations in Illinois. Illinois Leasing Agent and Real Estate Broker RequirementsAn individual who wants to obtain an Illinois real estate broker license must complete the required pre-license education (subject to the few exemptions below), pass a test, and file an application with the required fee. Pre-license Education Requirements: Leasing agent license = 15 hours of instruction in an approved course of study relating to the leasing of residential property. Broker license for a person who does not already have a salesperson license = 120 hours of instruction in approved courses, 45 of which shall be those hours required to obtain a salesperson license, plus at least 45 hours of mandatory courses as outlined in Section 1450.60 of the Rules. Broker license for a person who does already have a salesperson license = 75 hours of instruction in approved courses (not including the 45 hours required to obtain the salesperson license). The persons who are exempt from pre-license education are persons who are Illinois licensed attorneys and persons who qualify based upon Reciprocity with another State Property Management Requirements Main Page 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. |
Property Managers in Illinois: |
Featured Property Management Companies in Illinois
Chicagoland Leasing and Management
It is our policy to maximize income and minimize vacancies by
aggressively marketing your investment property.
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Real Property Management West Suburban Chicago
We Make Owning Property Profitable & Enjoyable
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Liberty Partners Property Solutions, Inc.
Serving the Chicagoland suburbs and GUARANTEED to
be the lowest price with the best service!
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Advantage Management
We custom tailor our services so that you are able
to utilize any or all of our resources, depending
on your management and financial needs.
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Ventures Property Management
Ready to manage your investment with an eye for
detail and in-depth knowledge of profitable
portfolio management.
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Keller Williams Premier Realty
We take care of everything involved in the leasing
process so you don't have to.
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D&R Property Management and Realty
We handle all aspects of finding a renter for your property. Because we have multiple properties we are able to use our scale and marketing power to rent your investment quickly.
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Cagan Management Group
Cagan Management Group is positioned to be
responsive, effective, and flexible to each and
every client.
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Westward Management, Inc.
Westward Management is committed to providing
property owners and condominium associations with
pro-active management services.
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RE/MAX Synergy
Contact Dave Shalabi's team to address your
Residential or Commercial property management needs.
Named by Re/Max the #1 Commercial Agent in Illinois.
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Real Property Management Group
We are the number one property management solution
nationwide. We Make Owning Property Profitable and
Enjoyable!
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Fulton Grace Realty
Specializing in single unit condominiums, townhomes
and apartment buildings, we are effective leasing
agents and experienced property managers.
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Advocate Property Management, LLC
Simply put, we employ innovative Property Managers
with the highest integrity, who leverage process and
technology to drive efficiency, so they are
available to provide you the best service.
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Real Property Management Northside Chicago
We Make Owning Property Profitable & Enjoyable
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HomeAngel Property Management Group
Delivering Service-Oriented Property Management in
Chicago's
Southwest Suburbs
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Advanced Property Specialists
With our experienced staff and certified managers
our team is devoted and qualified to assist the
needs of each individual community.
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Ekstein Asset Management
We are a national Real Estate Management Firm, with
one goal to exceed our clients expectations
enhancing the value of their real estate.
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Capital 22, LLC
Our principal strength is the ability to direct and manage resources to enhance property values for our clients.
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Matrix Realty Group
2 months free!
Commercial, Leasing, Management & Investment Property Sales
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JVM Realty Corporation
Our strategic management principles, sound core values, and
strong work ethic have earned us a trusted reputation of excellence.
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Northpoint Asset Management - Chicago
Northpoint Asset Management is committed to
providing professional service.
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Chicagoland Leasing and Property Management, Inc. (CLPM, Inc.)
Helping Homeowners and Renters find and maintain
a quality HOME in the Western Suburbs of Chicago!
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Green Ivy Realty & Property Management
Our focus is on exceptional management of homes, condos, and townhomes in the Chicagoland area.
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Carriage Property Management / GC Realty & Development
If you need a PROPERTY MANAGER we tailor our
services to fit your
needs or requests.
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Northpoint Asset Management - Chicago
Northpoint Asset Management is committed to
providing professional service.
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Real Property Management Suburban Chicago
"We Make Owning Property Profitable & Enjoyable"
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Braeside Condominium Management, Ltd.
Discover the Braeside Difference because after all,
it's not just your home, it's also your investment.
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Catalano & Associates, Inc.
We are 3 generations of Real Estate Asset Managers dedicated to providing superior management service to all of our clients.
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Connected Property Management
An "A+" rating from the Better Business Bureau and
unmatched reputation through years of successfully
providing the premier management in Chicago.
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Enlan Corporation
Better Quality, Better Value, and Fewer Headaches for board members. Enlan delivers results.
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Forth Group Real Estate Services
Let us show you how years of experience and creative
thinking will create opportunities and solutions for
your property.
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Hearthstone Realty, Inc.
Hearthstone is a small company that makes service to
our clients our number one priority.
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Heil, Heil, Smart, & Golee, LLC
Serving Chicago and its suburbs as a leader in
professional property management and for more than
125 years.
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Henninger Popp Real Estate & Development
Our property management program is tailored to meet
your needs.
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High Point Property Management
Professional Management of Condominiums, Townhomes,
Homeowner's Associations and Commercial Properties,
Consulting services Available.
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Lough Properties, LLC
See just how easy it is to collect a truly passive income each month.
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New Keys Realty
We take the hassle out of investing in real estate
by handling the day to day tasks associated with
owning rental property.
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NS Management Co, Inc.
Our hands-on, customer-focused approach has resulted in many long-term clients; some over 20 years.
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Pabcor Management
We are committed to working with our clients to
drive down their costs while improving ongoing
services and owner satisfaction.
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Post Oak Property Management
We provide the increasingly astute and conscientious
property owner with comprehensive, professional
management of rental properties throughout Chicago.
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Property Corporation of America
If your property is greater than 19 units, PCA would
love the opportunity to manage your property and
ensure it receives the individual attention it
deserves
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Real Estate Investor Service
"We pride ourselves on the long-term relationships
we have developed with our clients as well as the
stability of our staff."
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RedBrick Property Management
RedBrick is a full service management company ready
to exceed all of your property management goals.
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Sanders Commercial Real Estate
The goal of Sanders Commercial Real Estate is to be
a trusted partner for our clients.
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SD&S Properties, Inc.
Our 26-year history in the local real estate market
has enabled us to provide
high quality service.
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Sequoia Realty Group
We are committed to achieving the highest level
of professional standards and to ensuring our
clients' satisfaction.
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TriView Property Management
We are a reputable Chicago-focused firm offering a
customizable menu of services to fulfill every
property management need.
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