Property Management Laws in Indiana
Must Indiana property management companies have a real estate broker's license?
YES. Key components of property management (renting, leasing and managing) are considered real estate activities under existing Indiana real estate licensing laws. If a property manager is going to lease, rent, manage, list, or negotiate or offer to perform any of those acts, he or she will need a real estate license.
Are there any exceptions to the requirement that an Indiana property manager have a broker's license?
Yes. For example, an individual involved in the renting of residential apartment units need not be licensed if he or she is employed or supervised by a licensed broker. Also, the license requirement does not apply to the rental of residential apartment units by a person employed or supervised by a licensed broker.
For more information about these and other Indiana property management requirements and exceptions, please contact the Indiana Real Estate Commission.
Before hiring a property manager to manage your Indiana rental property, you should always check that he or she is licensed appropriately. You can check the license status of Indiana property managers at the Indiana Online Licensing website.
Must Indiana community association managers have a real estate broker's license?
NO. A broker's license is not required to manage community associations or condo associations in Indiana.
Indiana Real Estate Broker Licensing Requirements
Indiana real estate broker licensing requirements include:
- Age: Must be at least 18 years of age
- Trustworthiness: must have no prior convictions for certain acts
- Experience: Have been a licensed active real estate salesperson for one year preceding the application
- Education: Successful completion of approved broker course of study
- Exam: Pass written examination
Indiana Real Estate Salesperson Licensing Requirements
Indiana real estate salesperson licensing requirements include:
- Age: Must be at least 18 years of age
- Trustworthiness: Must have no convictions for certain crimes
- Education: Successful completion of approved salesperson course
- Exam: Pass written exam
- Application: Submit application with fee.
For more information about these and other licensing requirements, please contact the Indiana Real Estate Commission.
