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
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Julio G.
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
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