If you own a property management company, you're required to have a multitude of licenses and permits to operate legally. These compliance items are to safeguard your business and clients. Depending on the state, you must submit a company license renewal every few years (sometimes annually). If your business entity undergoes any major changes, you're also often required to submit documentation.
As a property management company, you cannot renew your real estate license if your broker is not current with their continuing education requirements. These include state-specific courses centered around different topics related to various aspects of real estate. You can be assured that Lariat will always be up to date with continuing education and keep their licenses active and in good standing.
Why Is It Important to Keep Up With License Renewals?
If you do not renew your license, it will expire. With an expired or inactive license, your property management company will be operating illegally and most likely in default of your property management agreement. This leads to loss of revenue, opens you up to fines, sanctioning, etc.
Beyond license renewals, there are a variety of situations that require you to update the Real Estate Commission. Lariat can guide you through these and help ensure you are compliant and in good standing with the Commissions. For example:
• A change in legal structure
• Change of business name
• Addition of a trade name
• Address change
Licensure is one of the key pillars of Lariat’s services. If your firm needs help managing the deadlines and navigating the often-confusing requirements that vary by jurisdiction, let Lariat assist you. We will help ensure your license applications and renewals are always completed in a timely manner and professionally documented with the Real Estate Commissions.
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