Keeping Current With Property Management In Staten Island Laws

Real Estate

During uncertain economic times, people do what they can in order to make money. That does not necessarily mean that there is anything dishonest going on, but perhaps you are not aware of the conditions involved. In one area in particular, that of Property Management in Staten Island, the discussion has been whether or not to let people who do not have licenses participate in the business.

In a state as diverse as New York, not to mention its 90 million properties, there is a lot up for discussion in regards to property management. All brokers that are licensed in the state of New York can manage properties however, the reverse is not true. A property manager does not need a license. Major organizations such as the IREM, Institute of Real Estate Management, are advocates of some sort of licensing process in order to best serve all parties involved in the market.

In many other states you also have the problem of agents trying to do more than they are proficient in, in order to make money in tough economic times. As anyone in property management can attest to, the laws change and they are heavily tenant serving. In order to best protect your clients that own the residence these laws must be adhered to.

What a licensing for Property Management in Staten Island will ensure not only the tenants and landlords but the management services themselves. A separate type of licensing requirement would mean that they have more information on this part of the industry as opposed to real estate heavy concepts. Some companies advertise that they have current training in the field but this is far from specific licensing agreements or continuing education credits. Until a law passes where it is required of all agents to have a license, check about specifics of education that your property manager may have.

In market such as New York, the situations are unique. The home ownership is not as prevalent and there is no median home value for an entire area. Rents vary depending on the section of town and your property manager is responsible for much more than simply collecting and distributing rental proceeds.