Question - I have a neighbor who is being transferred out of state for his job. He plans on renting his current home out, and does not want to hire a management company. He says he trusts me more than any manager and likes the fact that I live next door. He would like me to find and screen tenants for him, and then after they move in, collect the rents and handle maintenance calls. Do I need a license for this in North Carolina?
Answer - Yes! Check out this quick list of state by state requirements. In all but six states, you need some sort of real estate license to manage properties for others. There are a handful that require a specific property manager license, but most simply require a real estate broker's license. There are a few exceptions to this rule. Often, if you are working as an employee (think apartment complex) or if you are doing non-real estate broker tasks like collecting rent addressed to the owner, showing property, etc, then you also may be exempt.
You can manage your own investments without a license.