Is a condo property manager required to have PRC license as Real Estate Broker
QUESTION: Rltr. John, is a Property Manager of a condominium required to have a PRC license as a Real Estate Broker? ANSWER: It depends on the operations of the person. If the person operates as mere Administrator of the Homeowners Association, then there is no need for him/her to get Real Estate Broker PRC license. The appropriate designation or title of persons operating under this category would be Building Administrator, or Condominium Administrator, or Homeowners Association Administrator, but they must avoid using the designation or title Property Manager. A person who carries the designation or title of Property Manager operates as a caretaker or leasing agent of individual condo unit in exchange for a professional fee or any form of remuneration of personal services. In order to operate legally as a an independent service provider, a Property Manager must get a PRC license as a Real Estate Broker, or he/she can attach as Salesperson under the license of the Broker. The provisions, responsibilities, and obligations between the unit owner and property manager is forged by a Property Management Agreement, or Lease Agency Agreement, or a Special-Power-of-Attorney. If the person is only a caretaker, whether a family relative of not, who is given access to the unit and authority to lease it out without any kind of compensation, then a simple Special Power-of-Attorney that would work perfectly fine; as long as it is written in the SPA that there is no compensation for the SPA-holder. Voluntary SPAs are considered extension of the principals and exempted from the requirement for licensing in PRC.
IMPORTANT NOTICE: CONDO owners and tenants must read http://petalcorin.blogspot.com/2013/07/a-law-exempting-homeowners-association.html.
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