Property managers who form limited liability companies or otherwise incorporate can form a protective entity between themselves and tenants. When tenants have issues, they address them with the company instead of an individual. This protects personal assets as well as relationships that live outside of the property management environment.
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This means that the company you work for or the organization you form will be responsible for legal issues that may arise. You do not want to be personally held accountable for the duties and responsibilities of the company or organization.
Property managers often need separate legal representation from the company or organization that owns the property itself. This provides separation of your rights and responsibilities. Our property management attorney will focus on your needs and help protect you throughout the legal process.
Education: Successful completion of three college-level courses specified by the California Department of Real Estate.
California law on common interest developments. Personnel issues, including independent contractor and employee statutes, types of harassment and the American with Disabilities Act. Risk management, including insurance coverage and preventive maintenance.
California sales person licensing requirements include: Age: Must be at least 18 years old. Residency: Must provide proof of legal residence in the U.S. Truthfulness: If you have been convicted of a crime, the license may be denied. Also, failure to disclose a prior conviction or discipline could result in denial.
Experience: You must have a minimum of two years experience as a real estate salesperson (or equivalent) within the past five years
There is no requirement that a community association manager in California have a real estate broker's license. However, voluntary certification, known as "Certified CID Manager," is available. Claiming that you are certified to manage condo associations or other types of homeowner associations when you don't have the license is considered an "unfair business practice." The law for Certified CID Managers will sunset on January 1, 2015 unless the California legislature extends it.
Must a California property management company have a real estate broker's license? YES. Key components of property management are considered a real estate activity under existing California real estate licensing laws. A broker's license is required for any person or company that, for compensation, leases or rents or offers to lease or rent, ...
All real estate salespeople must act under the supervision of a licensed real estate broker. Brokers must establish policies, rules, procedures and systems to review, oversee and manage all transactions, documentation, trust funds, advertising, and compliance with discrimination laws. ( B & P §§ 10137, 10159.2; DRE Reg. 2725.)
Generally a real estate license is necessary to rent, lease, or manage property or solicit tenants, if done for others, for compensation or in expectation of compensation. (B & P § 10130 and 10131 (b).) 1.
A license is not required for the following rental activities: 1. A property management company employee if the company manages a residential apartment building, and if the employee is supervised and controlled by a broker of record or a qualified delegate.
LLCs. There are no provisions in the Business and Professions (B&P) Code which authorize a limited liability company (LLC) to become licensed as a real estate broker. ( B&P § 10158, 10159, 10159.2, 10170.5 10180, and 10211. Commissioner’s Regulations §§ 2740 – 2746 ).
Resident Managers are Employees Protected by Minimum Wage and Overtime Laws. California law provides that a resident manager is, by definition, an employee - not an independent contractor. This means, among other things, that the manager is protected by minimum wage laws. Those minimum wage laws provide, among other things, ...
Apartment buildings that have 16 or more units are required by law to have either a resident manager or a resident responsible person. Stated otherwise, by law either the owner, a manager or a "responsible person" (e.g., custodian) must live on site. (See CA Code of Regulation Title 25, Section 42.)