YES. Key components of property management are considered a real estate activity under existing Arkansas real estate licensing laws. A broker's license is required for any person or company who, for compensation, engages in the lease or rental of real estate in Arkansas, who offers or lists real estate for rent or lease, who collects rent for the use of real estate or who assists or directs in the negotiation of any transaction intended to result in the rent or lease of Arkansas real estate. A salesperson working under a broker may engage in such activities.
Certain limited exemptions exist. For example, on-site residential managers who reside at the property and who are engaged in the leasing of real property in connection with their employment need not have a real estate broker's license.
For more information about these and other Arkansas property management requirements and exceptions, please contact the Arkansas Real Estate Commission.
Before hiring a property manager to manage your Arkansas rental property, you should always check they he or she is licensed properly. You can check the license status of an Arkansas property manager at the Arkansas Real Estate Commission License Search.
MUST-KNOW INFO FOR PROPERTY MANAGERS:
Evictions are awful - perhaps the worst task property managers must perform. If you're in the business long enough, you'll likely have to go through the eviction process at least once.
Here's a local example of an Arkansas eviction: Stacey Torres, an Edmond resident living at the Summit Grove Apartments, recently found herself in the hot seat for facing felony counts of embezzlement and criminal use of a computer. It was also discovered that she had been given 19 eviction notices by her apartment complex. Ideally, you won't have to serve eviction notices 19 times. So long as you follow the proper procedures for evictions in Arkansas and are clear about your rights, you can increase the chances of undergoing a relatively drama-free eviction.
A community association manager need not be licensed as a real estate broker to manage a community or condominium association in Arkansas.
Arkansas real estate broker licensing requirements include:
Arkansas real estate salesperson licensing requirements include:
For more information about these and other licensing requirements, please contact the Arkansas Real Estate Commission.