YES. Key components of property management are considered a real estate activity under existing Delaware real estate licensing laws. A broker's license is required for any person or company that, for compensation, leases or rents or offers for rent any real estate, or negotiates leases or rental agreements. A salesperson working under a broker may engage in such activities.
YES. The statute specifically states that providers of property management services are exempt if they do not lease or rent, or negotiate leases or rental agreements, or improvements. "Property management services" not requiring a broker's license include the "supervision and the administration of the physical maintenance and/or the financial matters of real property." They include helping the owner select tenants, creating budgets for the property, collecting rents and holding security deposits.
For more information about these and other Delaware property management requirements and exceptions, please contact the Delaware Real Estate Commission.
Before hiring a property manager to manage your Delaware rental property, you should always check that he or she is licensed appropriately. You can check the license status of Delaware property managers at the Delaware Division of Professional Regulation's online license verification service.
There is no requirement that a community or condo association manager in Delaware hold a real estate broker's license.
Delaware real estate broker and associate broker licensing requirements include:
Delaware real estate salesperson licensing requirements include:
For more information about these and other Delaware licensing requirements, please contact the Delaware Real Estate Commission.