Property Management requirements in Utah

Must Utah property management companies have a real estate broker's license?

Yes — A Broker license is required for any individual who, for another and for valuable consideration, engages in property management including advertising real estate for lease or rent, procuring prospective tenants or lessees, negotiating lease or rental terms, executing lease or rental agreements. The licensing requirement does not apply to an owner who manages his or her own property, an employee for one property owner, apartment managers who reside in the apartments at reduced rent, full-time salaried employees of a Homeowners Association, hotel or motel management, or management activities associated with rental accommodations for a period of less than 30 consecutive days. A Sales Agent working for a Broker may also engage in such acts.

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

NO. A broker's license is not required to manage community associations in Utah.

Utah Real Estate Broker Requirements:

To become a licensed Broker an individual must:

1. Meet the statutory licensing qualifications of honesty, integrity, truthfulness, reputation, and competency. (Utah Code Annotated 61-2-6) Note: According to Administrative Rules R162-2-2.9 and 2.10, an applicant does NOT qualify for a real estate license if he or she has any felony in the last five years (starting from the time of conviction/plea or completion of any jail/prison sentence) OR if the applicant has any misdemeanor involving fraud, misrepresentation, theft, or dishonesty within the last three years.
   
   
2. Have at least three years of real estate experience.
   
   
3. Accumulate a total of at least 60 points within the five years proceeding application.
   
   
4. Take 120 hours of approved education at a certified Real Estate Pre-License School, consisting of:
   • 12 hours Broker Management
   • 24 hours Advanced Appraisal
   • 24 hours Advanced Finance
   • 24 hours Property Management
   • 24 hours Advanced Real Estate Law
   • 12 hours Utah License Law
   
   
   
5. Take and pass the Broker exam.
   
   
6. Submit to the Division:
   • Completed and signed application (issued at the testing center).
   • Signed original school certificates (issued by the real estate school) or Education Waiver (issued by the Division).
   • Signed and Notarized Broker Experience Documentation Form showing at least three years of qualifying experience.
   • Completed and signed Broker Transaction Log or Broker Property Management Log showing at least 60 experience points within the five years proceeding application.
   • Signed and notarized Broker Verification Form completed by each Broker with whom the applicant has affiliated during the five years proceeding application. Note: Forms must be submitted in a sealed envelope with the broker's signature across the seal.
   • For Principal and Branch Brokers, a notarized letter on the company's letterhead, signed by a company Officer, Manager/Member or Owner, authorizing the Broker to use the company name.
   • $118 total non-refundable fee ($100 application fee, $18 recovery fund fee).