Property Management requirements in New York
Must New York property management companies have a real estate broker's license?
YES. Key components of property management (renting and collecting rent) are considered real estate activities under existing New York real estate licensing laws. If a property manager is going to rent, list, negotiate the rental of property, collect rents, or place tenants on behalf of a landlord client, he or she will need a broker's license. A salesperson working under a broker may engage in such activities.
If services are strictly maintenance, a broker's license is not required.
Are there any exceptions to the requirement that a New York property manager have a real estate broker's license?
There are very limited exceptions to the requirement that New York property managers have a real estate broker's license.
Before hiring a property manager to manage your New York rental property, you should always check that he or she is licensed appropriately. You can check the license status of New York property managers at the New York Public License Search.
New York Community Association Management Licensing
There is no requirement that a community association manager in New York hold a real estate broker's license.
New York Real Estate Broker Licensing Requirements
New York real estate broker licensing requirements include:
New York Real Estate Salesperson Licensing Requirements
New York real estate salesperson licensing requirements include:
For more information about these and other licensing requirements, please contact the New York Division of Licensing Services. Specific information about broker licensing and salesperson licensing are available online.
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.