Required Licenses

Required Licenses

• Real Estate License: Must complete a state-approved real estate course and pass the licensing exam.
• Contractor’s License: Required for any major repairs or renovations; must pass a state exam and provide proof of experience.
• Business License: General business registration with local authorities is necessary to legally operate.

Insurance Requirements

• General Liability Insurance: Minimum coverage of $1 million to protect against claims of bodily injury and property damage.
• Workers’ Compensation Insurance: Mandatory for businesses with employees; covers medical expenses and lost wages for work-related injuries.
• Property Insurance: Coverage for any damage to equipment or rental properties during turnover processes.

Training Certifications

• Certified Apartment Manager (CAM): Requires completion of a training program and passing an exam focused on property management.
• National Association of Residential Property Managers (NARPM) Certification: Involves specialized training courses and exams covering property management best practices.
• Lead Safety Certification: Required for properties built before 1978; involves training on lead-safe work practices.

Local Business Permits

• Occupational License: Obtain a local occupational license to operate a rental property turnover service in your area.
• Health and Safety Permit: May be required depending on the nature of services provided; ensures compliance with local health regulations.
• Zoning Permit: Verify that your business location complies with local zoning laws to avoid fines or penalties.