Property Manager

Property managers are involved in the day-to-day operations of real estate. Thus, they are responsible for repairs, maintenance, and security. The property managers are required by laws to work as eyes of the property owners. Property managers work for owners of investment properties that include apartments, condominium complexes, private homes, shopping centers, and industrial parks. The property managers’ main responsibility is to undertake duties allotted to them by owners as they preserve properties values as they retain in conditions that generate income. The property managers are entitled to get a percentage commission or specific income mutually agreed with owners from the rent income as payment for their services. The property management agencies within the state of Texas are required by law to have active real estate broker’s licenses (Avantaggiato, & Gallo, 2019). The laws licensing property managers in the state of Texas consider leasing and renting as essential elements of property management that touch on real estate activities. The licensing laws in Texas hold that every property manager should hold a license for purpose of leasing or listing for lease real estate, negotiating for rentals, and assisting interested tenants to locate properties for lease. Also, the property managers are licensed to control the acceptance of deposit for rent from any resident of a residential unit and maintain the prerequisite of the laws in undertaking their work. However, an exemption exists in the law that permits property owners to manage their property without a license. Moreover, a property owner with a salaried employee requires not to have their employees have real estate licenses for them to manage or lease property that is owned by their employers. Texas State laws also hold that community association managers, as well as condo association managers, need not have real estate brokers’ licenses.

Registration requirements for property Managers

The state of Texas has put forward certain requirements that any property manager ought to meet before licensing. Before undertaking any examination the person must be of the age of majority or 18 years or above. Moreover, the candidate must be a US citizen or a legally admitted immigrant to the united states hence a legal resident of Texas. The person ought to have completed 270 class hours that are offered in core real estate classes. The candidate must have a bachelor’s degree or higher qualification that is considered to meet the requirement of 630 hours of related courses in real estate management that are acceptable by the regulatory commission. The person should demonstrate experience of at least 4 years in Texas as established by the commission guidelines (Karamitsos, Papadaki, & Al Barghuthi, 2018). The person before filing for the application must have worked as a real estate salesperson or broker for the past 5 years before filing for the application. The Texas laws for licensing property managers are required to pay the application fee of $ 375.50, have a recovery trust account fee of $ 10, and submit a fingerprint to allow for a background check. This ensures that the person has no known criminal history to ensure that the licensed person will not perpetuate criminal acts in managing people’s properties.

Relation of Property manager with staffs and licensing requirements as per Texas Laws

The laws for property management in Texas hold that a property owner can hold real estate and manage it without the requirement for a license. The state of Texas laws holds that if the owner hires a manager and pays him a salary the employee will need not have a practicing license as a real estate administrator. Any property manager ought to have a broker’s license to perform the duty of leasing real estate, enter into negotiation for the lease of real estate or facilitate in locating estate ready for lease. Also, the manager can get a broker’s license that empowers them to control the acceptance of rent deposit from the single-family seeking to have a single unit for residential property or they consider themselves as undertaking those activities (Garcia-Teruel, 2019). However, a property manager holding the broker’s license confers on his staff or employees working as sales persons under them to engage in activities enlisted in the license. The property manager may also consider hiring a licensed salesperson. The licensed salesperson should be over 18 years of age or more, a legal citizen of the United States or a lawfully admitted alien with legal residency in Texas. The salesperson must have attended 150 classroom hours as specified in Texas Real Estate Commission. The salesperson also ought to have done four semester hours in core courses or have a bachelor’s degree since it satisfies Texas real estate commission requirement. For a person to be licensed as a sales person they ought to pay the application fee of $ 143 with an additional $ 10 recovery trust account with no criminal record after a background check by the relevant security agencies. The property manager has the responsibility of ensuring that the license is regularly renewed after the expiry of its period and the members of staff are well compensated as they stick to the legal provision.

References

Avantaggiato, M., & Gallo, P. (2019, June). Challenges and opportunities using multichain for real estate. In 2019 IEEE International Black Sea Conference on Communications and Networking (BlackSeaCom) (pp. 1-5). IEEE.

Garcia-Teruel, R. M. (2019). A legal approach to real estate crowdfunding platforms. Computer Law & Security Review, 35(3), 281-294.

Karamitsos, I., Papadaki, M., & Al Barghuthi, N. B. (2018). Design of the blockchain smart contract: A use case for real estate. Journal of Information Security, 9(03), 177.

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