Welcome to our blog post where we share a firsthand guide on how to become a property manager in Florida. With our expertise as licensed brokers, we seek to provide you with a step-by-step breakdown of obtaining your CAM and broker license. If you’re interested in diving into the world of property management, join us as we unravel the intricacies of these licenses and guide you towards a successful career in this thriving field.
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A Step-by-Step Guide to Becoming a Property Manager in Florida: CAM & Broker License Explained by a Licensed Broker
Welcome to our review of Mickayla Fatovic’s video on becoming a property manager in Florida. In this informative video, Mickayla, a licensed broker herself, will guide you through the process of obtaining the necessary licenses to become a property manager in the Sunshine State. So, let’s dive in and explore the step-by-step journey of becoming a property manager in Florida!
- Becoming a Property Manager in Florida
To become a property manager in Florida, you must hold either a Licensed Broker or CAM (Community Association Manager) license, or a combination of both. These licenses are essential for various reasons, including legal requirements and insurance coverage.
- Licensing Requirements and Exceptions
There are exceptions to the licensing requirement in Florida’s property management industry. Managing your own investments, receiving limited power of attorney from trusted individuals, or being paid a salary by an owner are scenarios where a license may not be mandatory. However, it is crucial to understand that skirting the licensing requirements can lead to problems and ruin future plans.
- The Path to Licensing
In Mickayla’s video, she emphasizes the importance of getting a broker’s license first and then pursuing a CAM license after opening your own company. This sequence of licenses ensures that you are well-prepared and equipped to handle the responsibilities that come with managing properties.
- Resources and Information
Mickayla provides valuable resources and information in her video, assisting aspiring property managers in obtaining the necessary licenses. From exam preparation guides to licensing agencies and educational programs, she covers it all. These resources are incredibly helpful in navigating the licensing process with ease.
- License Requirements Based on Property Size and Budget
Depending on the size of the property you plan to manage and your estimated budget, different licenses may be required. If you intend to manage properties with one to nine units and a budget under $100,000, a broker’s license is necessary. On the other hand, for larger properties with budgets exceeding $100,000, a CAM license is needed. It is advisable to obtain both licenses as it opens up more opportunities and lends legitimacy to your professional profile.
- The Consequences of Avoiding Licensing
While it may be tempting to avoid the licensing requirements, doing so can have severe legal consequences and jeopardize your insurance coverage. It’s essential to honor the regulations and safeguard your future by obtaining the necessary licenses.
Becoming a property manager in Florida requires careful planning and obtaining the appropriate licenses. Remember, skirting the licensing requirements can have dire consequences in terms of legality and insurance coverage. By following the step-by-step process outlined in the video, you’ll be well on your way to establishing yourself as a professional property manager in the state of Florida. So, grab your pen and paper, watch video, and embark on your journey to become a licensed property manager in Florida today!