I know for a fact that real estate agents must get a licence from the Real Estate (Regulation and Development) Act (RERA). But you must have seen that for a long time, it had been uncontrolled and ungoverned for ages in India. There are some offences you will have to face as a real estate agent if you don’t have a licence. But does a property manager need a real estate license? Let me clarify it to you.Manage your property with NoBroker and stay away from all the hassle.
Do you need a license to be a property manager?
While it is clearly defined that a real estate agent must apply for a licence under RERA, it is yet unclear if a property manager needs to apply for it. A real estate agent must submit a request for registration with the required fee and supporting papers to the state Real Estate Regulatory Authority. For example, MahaRERA collects Rs.10,000 from a person, a business owner, or a proprietorship firm. And it collects Rs 1 lakh from partnership businesses, communities, private limited companies, etc.After carefully reviewing your application, the authorities will, depending on your situation, provide a separate registration for the state or jurisdiction. The authorities might also dismiss your request at this point if there is a good enough reason, which will be stated in writing to you. You will also be informed before such a decision. You can expect your proposal to be approved if you don't hear back from the authority. Keep in mind that within 30 days of the date of registration, the officials must produce the registration number and the certificate.
What documents are required for property managers to register?
Specific details about the activities, promoters, and advertisements that you have worked with over the past 5 years as a property manager.
A description of any ongoing legal actions brought against you or the brokerage firm.
Photocopies of the official letterhead, stamps, and receipts you plan to use.
A request form, together with the required fees.
Your personal information such as your name, address, and business type.
3 years' worth of income tax returns before the date of the registration application.
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Does a property manager need a real estate license?
Tara
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December 28, 2022
2022-12-28T20:41:20+00:00 2022-12-28T20:41:20+00:00Comment
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Property Management
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