Mesa Community College

Real Estate Education

Property Management

Property management is the operation of commercial, industrial and/or residential real estate. This is much akin to the role of management in any business.

Statistics:
60% of U.S. rental housing is owned by individual landlords.
Almost 1/3 of all U.S. housing is rented.
Almost 60% of all housing is detached single family homes.
There are over 115,000,000 housing units in the United States.

A broker's license is required for any person or company who, for compensation, engages in the lease or rental of real estate in Arizona, who offers or lists real estate for rent or lease, who collects rent for the use of real estate or who negotiates the rental or leasing of Arizona real estate. A salesperson working under a broker may engage in such activities.

Out of state property owners who lease or rent are required to have a professional management service to act on their behalf per the Arizona Landlord Law. The Arizona Revised Statues provides clear and simple information regarding Real Estate and Property Management. The Arizona Secretary of State website provides an easy pdf download of the The Arizona Residential Landlord and Tenant Act.

Arizona has a public license check system on-line for anyone holding a real estate salesperson or real estate broker's license. Owners who manage their own property are not required to have a real estate license, however they must at least have a business license to even rent out their own home.

Generally, property managers who engage in only association management need not be licensed real estate brokers. Some states, while not requiring a real estate license, do require association managers to register with the state.