If you live in one of the many states that require a real estate license for property managers you’ll get a minimal amount of training from your real estate classes.
However, there are two additional sources of property management training I recommend you seriously consider:
Take property management classes through an organization like NARPM. That organization offers a few different levels of certifications for property managers, and besides giving you very useful information and practical information, you’ll also end up with a certification that could give you a competitive advantage. NARPM has state and local chapters that provide classes that take your state and local laws.
Want to Find a Local Property Manager?
In addition to receiving certification training, there’s nothing like on-the-job training with a reputable property management company. To start your own property management company, you’ll probably need to have a real estate broker’s license, or it’s equivalent, which requires a few years of experience working in the real estate industry. If you need, but don’t yet have that experience, find a respected and well-organized property management company to work for, if you can.
As always, the information provided here is just that - it is for informational purposes only and is not legal advice. If you have any particular questions or issues, please consult an attorney.
Author of the Landlord Chronicles blog, Tracey March provides stories and “lessons learned” from her experience as a self-managed rental property owner. She helps owners decide if partnering with a property management company is beneficial.
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