Property Management Requirements in Florida
State of Florida Property Management Association; On our Website you can find on our Licensing Course Partners the Licensing Courses are offered to you to become a CAM Manager in the State of Florida!
Become a Property Manager – Many Clients wish to become a property manager they will learn requirements, then take their tests online or in a classroom.
Training is offered by SFPMA and our educational members.
Questions and Answers you might have
1. Must a Florida property management company have a real estate broker’s license
YES. Key components of property management (renting and leasing) are considered a real estate activity under existing Florida real estate licensing laws. A property manager needs a brokers license if he or she is paid by commission, and is handling rentals and leases for others.
No license is required for managing personally owned properties. There is a “Property Manager” license or certificate you should have. Also, certain rental properties need a license through the Div. of Hotels and Restaurants.
2. Are there any exceptions to the requirement that a Florida property manager have a broker’s license?
YES. For example, if a property owner employs someone to manage their property, and that “employee is paid a salary”, as opposed to being paid a commission or on a transactional basis, a broker’s license is not required.
For more information about these and other Florida property management requirements and exceptions, please contact the Florida Real Estate Commission.
Before hiring a property manager to manage your Florida rental property, you should always check that he or she is licensed appropriately. You can check the license status of Florida property managers at the Florida Department of Business and Professional Regulation’s Licensee Search webpage.
3. Must Florida community association managers have a real estate broker’s license?
No. However, a Community Association Manager license is required if someone receives compensation for providing management services for the following types of associations:
- An association with ten or more units
- An association with a budget of $100,000 or greater
4. Florida Real Estate Broker License Requirements
Florida real estate broker licensing requirements include:
- Age: Must be at least 18 years of age.
- High School: Must have a high school diploma or equivalent.
- Experience: Must have held a current real estate sales associate license for at least 24 months during the 5 year period immediately preceding becoming a licensed broker.
- Education: Successfully complete a Florida Real Estate Commission approved pre-licensing course for brokers, consisting of 72 classroom hours and covering specified topics. Courses are valid for licensure purposes for two years after completion. In addition, successfully complete a FREC-approved post-licensing course for brokers, consisting of 60 classroom hours before the initial broker license expires.
- Exam: Pass the Florida Real Estate Broker Examination with a grade of at least 75.
- Fee: $115 ($20 application fee; $90 license fee; $5 unlicensed activity fee).
- Application: complete and submit broker license application which is available online.
5. Florida Real Estate Salesperson License Requirements
Florida real estate salesperson licensing requirements include:
- Age: Must be at least 18 years of age.
- High School: Must have a high school diploma or equivalent.
- Education: Successfully complete a Florida Real Estate Commission 63-hour sales associate course.
- Trustworthiness: Must be of good moral character; must have a background check and submit fingerprints.
- Exam: Pass the Florida Real Estate Sales Associate Examination with a grade of at least 75%
6. Florida Community Association Manager License Requirements
Florida community association manager licensing requirements include:
- Age: Must be at least 18 years of age.
- Education: Must complete at least 18 hours of pre-licensure education from an approved provider.
- Trustworthiness: Must be of good moral character; must have a background check and submit fingerprints.
- Exam: Pass the Community Association Management Exam.
- Then Pay the License fee in your state.
With over 15 years of experience, we provide the best professional continuing education in Florida.
More Community Association Managers have gone through Florida’s license training courses than with any other offered, Whether you are looking for a classroom experience or an online courses, we make sure you are prepared for the exam and success. Our Partners with CAM Pre-licensing and CAM courses, have experienced a 100% passing rate when the course and reviews are completed before the exam.
Long after you have completed your exam, we are behind you with the best continuing education courses in the business.
SFPMA has our Calendar of upcoming events: Each month you will find the top events given by Law Firms, Educators, Service and a great team of Marketing Companies. Find courses for boards, managers, owners and investors. You can also take advantage of our You Tube and Radio Shows by some of the All Stars in out education by: Kay Bender Rembaum, and Condo Craze and HOA’s.
Becoming a Property Manager – Many Clients wish to become a property manager they can learn and then take their tests online or in a classroom, Training is offered by educational members of sfpma
Licensing requirements for Property Managers
How long has the company been in operation?
The rule of thumb is to look for five years or more experience, but this must be weighed against all the other criteria as there are subpar veterans and excellent startups in many markets. Also, beware of a company that has changed its name to avoid bad past.
Community Association Managers who focus on one property type and/or don’t provide realty services pride themselves on this point. There are definitely benefits to working with a company that has a single focus and specialization, but there are plenty of competent community association management companies who provide realty service and/or manage multiple property types. The main thing to look out for is people who decide to become property managers overnight even though they are unqualified. Although this applies to people from all backgrounds, its worth noting that when the real estate market slows down a good number of realtors moonlight as property managers, some of whom lack the proper licensing and or skills required.
How knowledgeable are they?
If they appear to not have the time to answer your questions in the interview process, move on. They either genuinely don’t have time for their clients, or this is a front to mask their lack of knowledge. Try offering them some hypothetical scenarios to see if they offer you solid answers or dance around the question. Quick, clear answers mean there are well laid out processes in place rather than a fly-by-the-seat-of-their-pants, more reactive mentality.
Are they licensed to practice property management?
This is a very important point as it is a serious problem when anyone tries to practice property management without being a licensed Community Association Manager and educated in the field. The fact that your community association management company is licensed means they are subject to the ethics and guidelines established by their states governing authority. If they don’t have a broker’s license, they either will likely be operating under another broker’s license or are in a state that does not require a broker’s license. Either way it’s worth checking the laws in your state and verifying things to make you don’t hire a company that is practicing property management illegally. Also make sure to find out if they have a current errors and omissions insurance policy.
What certifications does the CAM company and its employees have? Do they participate in continuing education?
This is a good indicator of how seriously the company takes their work. You want to look for companies that nurture their employees professional development by encouraging (or even better requiring) them to attend graduate level courses and seminars. Professional certifications mean the recipient has invested considerable time and money acquiring the skills required to be an expert in their field. Here are some trade organizations and the designations they provide:
- National Association of Residential Property Managers (NARPM) – RMP, MPM, CRMC,CSS
- National Apartment Association (NAA) – CAM, CAMT, CAPS, CAS, NALP
- Institute of Real Estate Management (IREM) – CPM, ARM, AMO, ACoM
- State of Florida Property Management Association. (SFPMA) (Through our Member Partners)
Does the management team dress and act professionally?
First impressions matter. The companies you interview are likely on their best behavior during the interview process so if they don’t look and behave professionally then, don’t expect things to improve. Consider that this person will represent you when dealing with current and potential future tenants; if you don’t find them agreeable what are the odds your tenants will? It’s also a good idea to get a look at their offices as this will provide yet another window into what kind of property conditions they find acceptable.
How many properties should managers manage
How many types of properties do they manage? Do they have a specialty?
Generally speaking it is a good thing if they focus on specializing in one area. How many properties are they currently managing? Is the company trying to grow, hold or slim their portfolio? This question is closely related to size which is covered in the next article.
Do they manage properties locally, regionally, or nationally?
The conventional wisdom is that a local only is best because is allows for a more singular focus as well as increases managements attention and ability to meet your needs as well as your access to decision makers in the company. That said, this can be an over generalization easily out weighed by any number of the other factors covered in this hiring guide.
Do they manage any section 8 properties?
These kinds of properties come with their unique challenges and require specific knowledge to manage. If you own, or think you may consider purchasing section 8 properties in the future you are best looking for a company that has experience in this area.
Ask for the addresses of some of their properties so you can do a drive by and if possible get a walk through.
Bear in mind they will select properties that reflect well on them, if you really want to go the extra step you can hunt down one of their other properties by locating some of their listings on there websites. Either way, if you get the opportunity to talk to tenants & owners try to assess their level of satisfaction with the Community Association Management Company.
Where is their office located? How far is it from your rental property?
The farther away they are the more likely the level of attention your property receives will suffer. A maximum of a twenty five minute drive is a good rule of thumb. or Find out of they have managers at each property some companies have offices in each building they manage, or an agreement with the building owner placing an apt set as a office.
IMPORTANT: This information is intended for informational purposes only and under no circumstances should it be considered legal advice or relied upon without first confirming its contents with your state real estate commission. Laws are updated frequently, and this information may not reflect the current law in your state. To confirm the specific requirements for each state, please contact your state real estate commission.
Property Management Forms
As you become a CAM Manager and start your business, You will need the Forms to help you, Leases, Letters to Tenants, Legal Documents and much more……..
Just some of the essential forms to assist you in leasing your premises, complying with legal requirements, and keeping relations with your tenants amicable. Forms include the 1. Landlord Tenant Closing Statement to Reconcile Security Deposit, 2. Residential Rental Lease Application, 3. Residential Rental Lease Agreement, 4. Commercial Building or Space Lease, 5. Security Deposit Agreement and other forms.
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