Property Management Laws in New Jersey
Must New Jersey property management companies have a real estate broker's license?
YES. Key components of property management (renting, leasing and collecting rent) are considered real estate activities under existing New Jersey real estate licensing laws. If a property manager is going to rent, list, collect rents, procure prospects or negotiate, assist, or offer to perform any of those acts, he or she will need a broker's license. A salesperson working under a broker may engage in such activities.
Are there any exceptions to the requirement that a New Jersey property manager have a real estate broker's license?
There are only limited exceptions to the requirement. For example, a bona-fide property owner is exempt as to their own property.
For more information about these and other New Jersey property management requirements and exceptions, please contact the New Jersey Real Estate Commission.
Before hiring a property manager to manage your New Jersey rental property, you should always check that he or she is licensed appropriately. You can check the license status of New Jersey property managers at the Commission's Real Estate Licensee Search.
MUST-KNOW INFO FOR PROPERTY MANAGERS:
New Jersey Eviction Laws
Evictions are awful - perhaps the worst task property managers must perform. If you're in the business long enough, you'll likely have to go through the eviction process at least once.
Here's a local example of a New Jersey eviction: If you believe you need to start the eviction process because you have the worst tenant ever, you might get into an argument with landlord Pat Giganti. He owns a rental property once occupied by Mike Sorrentino, a star of the reality TV show Jersey Shore who is famous for his wild antics. He was accused by Giganti of trashing a rental home and falling behind on his rent payments.
Looking for more property law information? Explore eviction laws and security deposit laws for property management.
New Jersey Community Association Management Licensing
A broker's license is required to manage community associations in New Jersey only if the manager is renting, leasing, selling or advertising.
New Jersey Real Estate Broker Licensing Requirements
New Jersey real estate broker licensing requirements include:
- Age: 18 years of age or older
- High School: must be a high school graduate or equivalent
- Trustworthiness: must provide evidence of good moral character
- Exam: must pass the real estate broker examination
- Experience: must have worked as a salesperson full-time for three years immediately preceding the date of application
- Education: must pass 90 hour pre-licensure course at an approved school
New Jersey Real Estate Salesperson Licensing Requirements
New Jersey real estate salesperson licensing requirements include:
- Age: 18 years of age or older
- High School: must be a high school graduate or equivalent
- Trustworthiness: must provide evidence of good moral character
- Exam: must pass the real estate salesperson examination
- Education: must pass 75 hour pre-licensure course at an approved school
Please note that New Jersey does not have reciprocity with any other state.
For more information about these and other licensing requirements, please contact the New Jersey Real Estate Commission. Specific information about licensing may be found at the Commission's Licensing and Education webpage.
