Before you do property management, there are requirements or laws that you need to pass. In this way, the people will not be afraid of letting you manage one of their properties even though you are already competent, proficient, or capable of doing so. So, to make you aware with California laws, here are the following:
- Property management is being considered as an activity in real estate under California existing licensing laws in real estate. In this connection, if you will manage others property or your property, you need to have a broker’s license so that in the general perspective you will be able to do the job easily. When you have this kind of license, you can manage your property. You can make it as your rental or leasing business. In other words, it is imperative to get broker’s license when you solicit compensation from tenants, provide rental and leasing services, negotiate the sales, get rents from a particular property, etc.
- There is an exemption of getting broker’s license when you are under the control and supervision of a specific broker that is employed by the property management firm. So, you will do any relevant real estate management when you are under the supervision of a broker. Nevertheless, if you have a lot of questions about this situation, you can contact the Real Estate Department of California. Generally, when hiring for a property manager, there is a need to know whether the person is properly licensed or not.
- When there is a need to expand your real estate property into a condominium, you can do California eviction laws once. In this way, you will be able to evict all your tenants before you convert your property which is under the Ellis Act. However, you can only do this once.
- The California laws or requirements include other things such as: you must be at least 18-year-old, must provide legal residence proof that you are a resident of the United States of America more particularly California, you must be truthful and honest which means you should not have been convicted of a crime because the application for the license will be denied, you must have two years of experience as a sales person, you must complete the broker licensing exam, and you must a graduate related course which includes subjects s Real Estate Practice, Real Estate Finance, Real Estate Appraisal, Real Estate Economics, and more.
- When you want to pass the manager licensing requirements, you have to be familiar on the California law about the interest developments; personnel issues which encompass of employee statutes, independent contractor, and kinds of harassment; risk management that includes preventive maintenance and insurance coverage; property protection that comprises of energy conversation, daycare facilities, hazardous material, and local regulations; business affairs in community associations; and more.
Thus, when you want to be part in property management industry, you need to pass all the said California laws as these will give you the ability to make rental or leasing business, collect compensation from your tenants, etc.