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Author Topic: Mgt & Leasing Question  (Read 5148 times)

Offline Keith

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Mgt & Leasing Question
« on: November 06, 2003, 04:36:04 pm »
Is it possible to construct a management and leasing contract that does not require a RE license? Ex. A contract with an individual to another individual to manage and lease their property for a flat fee per year.

Thanks,
Keith

Offline tedjr

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Management
« Reply #1 on: November 12, 2003, 06:52:41 am »
You can work as an employee and manage property without a license.  Employee compensation can be a flat fee or hourly or a % of income. I believe as long as you do not advertise as an agent looking to manage other properties you will be OK. By advertise I mean work of mouth etc and not just a newspaper etc. You may be able to work for more than one employer but that is kind of grey in my opinion. I am sure a copy of the statute is online thru the Texas Real Estate Commission that may clear up some of your questions

Thank you,

Ted P. Stokely Jr
11505 Sw Oaks
Austin, Texas  78737

512-301-9171 home
512-587-6177 mobile
Ted P. Stokely Jr

San Antonio, Texas

Offline Keith

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Management
« Reply #2 on: November 12, 2003, 10:28:02 am »
Ted,

Thanks for the reply. I've checked the TREC website and all I could find is that you had to be an employee of the owner to lease their space without a license.
Here's my situation. I own, manage and lease 8 commercial properties with 17 tenants. Other commercial owners in the area have asked if I would lease and manage their properties.
I was hoping someone here would know of a way to do this without a license. Also, the TREC website did not say what would be the consequences for leasing without a license, or how enforced.

Thanks again,
Keith

Offline tedjr

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Two key questions
« Reply #3 on: November 12, 2003, 11:04:23 am »
Those are the two key questions. I know that they can revoke your license if you collect fees and  do not have a license. I saw several Brokers being  put on probation etc when I belonged to the Austin Board and read the TREC magazine. I would not risk jail time for sure or tens of thousands in legal fees. There must be some legal way. A few ideas maybe:

1. Form partnership to own the properties where you are managing partner  but not voting partner and only had a small ownership.

2. Hire an inactive Broker who would  collect and then pay you most of the fee as am employee.

Thats all i can think of for now. I hope some others can help too

Ted Jr
Ted P. Stokely Jr

San Antonio, Texas

 




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