Managing property can be a lucrative and rewarding career. However, if you want to manage property in Missouri, there are certain requirements by law that you must meet.
Whether you need a Missouri real estate broker’s license to manage property depends upon the specific job and tasks that you do.
As a property manager, if you want to lease, rent, list, procure prospects, negotiate, or assist in any of these tasks, you will need to have a real estate broker’s license. In Missouri, leasing is considered a real estate brokerage service under Missouri real estate licensing laws.
The requirements to obtain a Missouri real estate broker license are:
- Must be 18 years of age or older
- Must provide fingerprints
- Must hold a current and active Missouri salesperson license for at least 24 out of the previous 30 months preceding application for license
- Must complete a 48-hour pre-exam broker course from an accredited Missouri real estate school
- Must complete both portions of the Missouri broker exam
- Must complete the application for license within 6 months of completion of the 48-hour pre-exam broker course
However, there are a few exceptions to the requirement of possessing a broker’s license for property managers. The requirement does not apply to people, businesses or lessees simply managing property or to their employees. A license also is not required of persons hired to manage real property, as long as their job duties are limited to activities such as receiving and delivering leases, lease applications, showing units, and clerical tasks. There is also no requirement that a Missouri community association manager or condo association manager hold a real estate broker’s license.
If you own real estate and want to hire a person to manage the property as rental property, you should check to ensure that a person is licensed appropriately under Missouri law.
If you run afoul of the law or uncertain as to what is required, consult with an experienced Missouri real estate attorney to understand your rights and obligations.