Required Licenses

Required Licenses

• Real Estate License: Must pass the state exam and meet continuing education requirements.
• Business License: Must register your business with the local government and pay the necessary fees.
• Contractor's License: Required if performing any significant renovations or repairs; must meet local building codes and regulations.

Insurance Requirements

• General Liability Insurance: Minimum coverage of $1 million to protect against bodily injury and property damage claims.
• Workers' Compensation Insurance: Required if you have employees; covers medical expenses and lost wages for work-related injuries.
• Property Insurance: Protects your business assets, including tools and equipment, from theft, fire, or other damages.

Training Certifications

• Certified Apartment Manager (CAM): Requires completion of a training program and passing an exam, focusing on property management skills.
• National Association of Residential Property Managers (NARPM) Certification: Offers various certifications, requiring specific coursework and experience in property management.
• OSHA Safety Training: Completion of OSHA training programs to ensure compliance with workplace safety standards.

Local Business Permits

• Rental Property Permit: Must apply for a permit specific to rental properties, which may require inspections and adherence to local housing codes.
• Health and Safety Inspection Permit: May be required to ensure the property meets local health and safety standards before renting.
• Signage Permit: Required if you plan to post rental signs on the property, subject to local zoning laws.