Property Management requirements in New Jersey
Must New Jersey property management companies have a real estate broker's license?
YES. Key components of property management (renting, leasing and collecting rent) are considered real estate activities under existing New Jersey real estate licensing laws. If a property manager is going to rent, list, collect rents, procure prospects or negotiate, assist, or offer to perform any of those acts, he or she will need a broker's license. A salesperson working under a broker may engage in such activities.
Are there any exceptions to the requirement that a New Jersey property manager have a real estate broker's license?
There are only limited exceptions to the requirement. For example, a bona-fide property owner is exempt as to their own property.
Before hiring a property manager to manage your New Jersey rental property, you should always check that he or she is licensed appropriately. You can check the license status of New Jersey property managers at the Commission's Real Estate Licensee Search.
New Jersey Community Association Management Licensing
A broker's license is required to manage community associations in New Jersey only if the manager is renting, leasing, selling or advertising.
New Jersey Real Estate Broker Licensing Requirements
New Jersey real estate broker licensing requirements include:
New Jersey Real Estate Salesperson Licensing Requirements
New Jersey real estate salesperson licensing requirements include:
Please note that New Jersey does not have reciprocity with any other state.
For more information about these and other licensing requirements, please contact the New Jersey Real Estate Commission. Specific information about licensing may be found at the Commission's Licensing and Education webpage.
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.