If you want to become a property manager, you must obtain the proper license. This ensures that you are qualified and capable of fulfilling the duties and responsibilities of a property manager. Compared to other states, though, obtaining a property management license in Florida is different. Here are the answers to frequently asked questions to guide you through the process.
How to Get a Property Management License in Florida?
There is actually no such thing as a Florida property management license. Instead, to become a property manager in Florida, you must obtain a real estate broker’s license. This is based on Chapter 475 of the 2019 Florida Statutes.
According to the state’s laws, some of the major responsibilities of property managers are considered as real estate services or activities. Specifically, a real estate broker’s license is required if you are involved in renting or leasing the property of another person. You also need a real estate broker’s license if you are advertising a property on behalf of another person.
A key aspect to take note of here is compensation. If you are performing real estate services on behalf of another person for compensation, you must have a real estate broker’s license.
For example, property management companies receive a commission in exchange for their services. If you work for a property management company, you need a real estate broker’s license. On the other hand, if you are a salaried employee of the property owner, you do not need a real estate broker’s license to engage in renting, leasing, or advertising.
What Are the Property Management License Requirements in Florida?
In Florida, a property manager license is equivalent to a real estate license. According to the Florida Department of Business & Professional Regulation (DEBR), the requirements for obtaining a real estate license are as follows:
- Age Requirement: You must be 18 years old or older
- Social Security Number: You must have a U.S. Social Security Number
- Educational Attainment: You must have a high school diploma or a GED
Pre-Licensure Education
To obtain a real estate license, applicants must attend a pre-licensing course that is approved by the Florida Real Estate Commission (FREC). The course has a minimum of 63 hours, where you will learn about real estate laws and principles.
The course can range from $100 to $500. Classes can be online or in person. At the end of the course, there is an exam where you must score 70% or higher. Upon completion of the course, you have up to two years to take the real estate licensure exam.
You are exempt from the pre-license course if you have a four-year degree in real estate. Instead, you must submit an original certified transcript with a cover letter prior to application.
Application Process
The next step is to submit the application form and pay the application fee. The fee also covers the electronic fingerprinting requirement. All in all, it costs about $89 to 100. After submitting your application form, wait for the approval letter from the DBPR. It may take about 10-30 days.
Real Estate Broker Exam
After approval from the DEBR, you can now take the real estate broker exam.
Pearson Vue administers the licensure exam so you will have to find the nearest location and set up an exam schedule. The exam fee is $36.75.
You must score 75% or higher to pass the real estate exam. Results typically come out 7 to 10 days after taking the exam.
Activate Your License
You must activate your real estate broker license for it to become valid. Before the license expires, you must also complete a post-licensing sales associate course from a FREC-approved real estate school. The course has a minimum of 45 hours.
How to Become a Property Manager in Florida?
Once you obtain your real estate license, you can now become a property manager in Florida. You can join a property management company or work as a freelancer. Basically, you can deliver a wide range of property management services in the state with a proper license.
How to Become a Community Association Manager in Florida?
In Florida, a property manager and community association manager are different professions. Though they may have similar or overlapping responsibilities, a community association manager works on behalf of a homeowner’s association. Nevertheless, there is also a licensing requirement.
Community association managers in Florida should have a license to perform key responsibilities such as controlling and disbursing HOA funds, preparing budgets and financial reports, assisting board meetings, and handling the day-to-day operations of the HOA.
In addition, a community association management license is required if you are working for an HOA that has 10 or more units or if the HOA has an annual budget of $100,000 or more.
Understanding the Nature of a Property Management License in Florida
Though there is no property management license in Florida, there is still a licensing requirement that you must obtain before being able to practice the profession. A real estate license ensures that you are qualified to perform property management services in Florida.
Now that you have a solid understanding of what it takes to be a property manager in Florida, you’ll be able to take concrete steps in becoming a licensed and qualified professional.
If you are interested in pursuing this line of work, make sure to check out our online directory of property management companies, real estate agents, and HOA management companies. These companies can offer you the guidance you need as you take the next steps.
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