Is a license (and all the licensing rules) required to manage jointly owned commercial property?

In Texas. The biggest question is how to handle jointly owned properties. One of 6 owners is insisting on managing the commercial properties and not exempt as an employee. I read the TREC rules and it refers to residential single family giving our commercial properties an additional exempt status
In Property Management - Asked by Charles C. - Jul 25, 2017
Report Abuse
Answer this Question

Answer(s)

Julio G.
Broker/Agent
Tampa, FL

Most states have similar laws regarding Real Estate licensees; in Florida, (F.S. 475) it keeps it pretty clear; if you work for others and are paid commission, or any other license required activity, having a vested interest must be disclosed and a license required. That being said, any owner can manage his/her own property without a license; any partner does not requires a license in as much as the activity performed does not deal with the general public as a brokerage activity; and compensation is for prorate share of partnership, that is nothing above what would normally be his/her share of partnership profit or loss. In any event, once a real estate activity, providing these services for others (Buy, sell, trade, lease, auction, etc.) are not part of the partnership activities, no license should be required, subject to Texas laws.

Jul 25, 2017
Report Abuse

Welcome to Answers

LoopNet Answers is where the commercial real estate community shares what they know to help each other out. And it's all for free.

Ask a question to get advice from brokers, investors, professionals and local experts.

Answer questions to raise your visibility as a trusted advisor and build new relationships.

Ask a Question

Post Question