Property Management Laws in Kentucky

Must Kentucky property management companies have a real estate broker's license?

YES. Property management is expressly considered a real estate brokerage act requiring a real estate broker's license. Property management is defined as:

the overall management of real property for others for a fee, compensation, or other valuable consideration, and may include the marketing of property, the leasing of property, collecting rental payments on the property, payment of notes, mortgages, and other debts on the property, coordinating maintenance for the property, remitting funds and accounting statements to the owner, and other activities that the commission may determine by administrative regulation.

Are there any exceptions to the requirement that a property manager have a real estate broker's license?

Yes. For example, a person engaged in property management does not need to be licensed if they are a regular employee of the owner or principal broker of the company engaged in property management. In addition, a real estate broker's license is not required if the person engaged in property management receives as his or her primary compensation the use of a rental unit.

For more information about these and other Kentucky property management requirements and exceptions, please contact the Kentucky Real Estate Commission.

Before hiring a property manager to manage your Kentucky rental property, you should always check that he or she is licensed appropriately. You can check the license status of Kentucky property managers and the Kentucky Real Estate Commission's Public Database Search.

Must Kentucky 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 Kentucky.

Kentucky Real Estate Broker Licensing Requirements

Kentucky real estate broker licensing requirements include:

• Age: must be at least 18 years of age
• Experience: must have been actively engaged in the real estate business as a licensed sales associate for a period averaging at least 20 hours per week for a two year period.
• High School: must have a high school diploma or equivalent.
• Education: must have completed 21 credit hours or equivalent in specified courses at an approved school.
• Exam: Pass broker's exam. Fee is $100.
• Trustworthiness: submit to a criminal background check

Kentucky Real Estate Salesperson Licensing Requirements

Kentucky real estate salesperson licensing requirements include:

• Age: must be at least 18 years of age
• High School: must have high school diploma or equivalent.
• Education: must have completed 6 credit hours or equivalent in specified courses at an approved school.
• Exam: Pass salesperson's exam. Fee is $100.
• Trustworthiness: submit to a criminal background check

All active Kentucky real estate licensees are required to carry errors and omissions insurance as a condition of licensure.

For more information about these and other licensing requirements please contact the Kentucky Real Estate Commission.