Property Management Laws in Delaware
Must Delaware property management companies have a real estate broker's license?
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.
Are there any exceptions to the requirement that a Delaware property manager have a broker's license?
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.
Delaware Community Association Licensing
There is no requirement that a community or condo association manager in Delaware hold a real estate broker's license.
Delaware Real Estate Broker Licensing Requirements
Delaware real estate broker and associate broker licensing requirements include:
- Experience: actively licensed as either a broker or salesperson for a continuous period of five years immediately prior to applying for the license and experience in at least 30 qualified sales transactions during that time. In addition, broker applicants (as opposed to associate broker applicants) must have been actively practicing real estate for three years immediately preceding submission of the application
- Education: Complete a 99-hour broker's course accredited by the Delaware Real Estate Commission. Submit application within one year of taking the course
- Exam: Pass the salesperson's licensing examination
- Trustworthiness: Submit an affidavit that the applicant has not engaged in any acts or offenses that would be grounds for discipline
Delaware Real Estate Salesperson Licensing Requirements
Delaware real estate salesperson licensing requirements include:
- Education: Complete a 99-hour real estate salesperson's course accredited by the Delaware Real
- Estate Commission. Submit application within one year of taking the course
- Exam: Pass the two part standardized broker licensing examination
- Trustworthiness: Salesperson application includes a section on questions related to trustworthiness
For more information about these and other Delaware licensing requirements, please contact the Delaware Real Estate Commission.
- HOME / CONDO
- Single Home or Condo (Valued up to $300K)
- Single Home or Condo ($300K to $500K)
- Single Home or Condo ($500K to $1 Million)
- Single Home or Condo (Over $1 Million)
- Multi-Family (2-4 units)
- Multi-Family (5-19 units)
- Multi-Family (20-99 units)
- Multi-Family (100+ units)
- Homeowners Association (2-49 units)
- Homeowners Association (50-99 units)
- Homeowners Association (100+ units)
- Condominium Association (2-49 units)
- Condominium Association (50-99 units)
- Condominium Association (100+ units)
- Retail (Up to 9,999 sqft)
- Retail (10,000 - 100,000 sqft)
- Retail (100,000+ sqft)
- Office (Up to 9,999 sqft)
- Office (10,000 - 100,000 sqft)
- Office (100,000+ sqft)
- Warehouse/Distribution (Up to 100,000 sqft)
- Warehouse/Distribution (100,000+ sqft)
- Light Manufacturing (Up to 100,000 sqft)
- Light Manufacturing (100,000+ sqft)
- Parking Garage
- Vacation (1-2 units)
- Vacation (3+ units)
- Other Associations (Hotel, Resort etc.)
- Mobile Home Community