Property Management In Kansas City
I have got to tell you, good to great property management in Kansas City is very difficult to find!
I've been actively looking for a quality property manager in Kansas City, Missouri for quite some time. I can recommend some good property management companies in Kansas. Just not Missouri. Here is my problem.
The last four, I said 4 (quatro, for my Spanish readers), property management firms I 've spoken to who are willing to take on more clients in Missouri are not licensed.
"You have to have a license?" is the standard response.
Jeez. If I have to tell you that Missouri is different than Kansas in that a property manager must have a real estate license to do business, any business in Missouri, then I'm not filled with confidence that you understand the rest of the landlord-tenant laws in Missouri.
I have half a mind to start a full fledged property management firm. Talk about a need. I could be at 100 units before January 1. I'm convinced of it. (Oh boy. I can hear Jeff Brown now.)
Seriously, if you are a quality property manager who is legally operating in Missouri and would like to discuss how we can do business, give me a call. Otherwise, you illegals are about to get competition. And I know how to make phone calls to Jefferson City. That will eliminate a lot of my competition right there!
11 comments:
Can you spell I-N-T-E-R-V-E-N-T-I-O-N?
I knew that would be your answer in some form or the other. And at this point I'm not really looking into starting a PM firm.
However, w/o solid property management in place for Missouri it really cuts down my ability to recommend some properties to a very important part of my client base. (And perhaps yours?)
So it greatly concerns me.
By the way - if you are a reader and you have someone you'd like to recommend...I'm listening.
Funny, I was just getting ready to talk about how vital property management is to good long term investing on my site.
I had several issues with them for my investors for quite a while and am now working with two different property managers who seem to actually be doing what they said they were going to do.
Incredible!
Are you SURE it is necessary to be licensed in MO? My MO RE advisor says no.
I'm sure one of you is, but until I get to know both of you better, I have no idea which of you is right about this. Where do I go if I want to hear directly from the horse on this one, rather than watch all you Realtor types have an "I'm-right" fight?
Laine,
I'm going to an appointment shortly. But later tonight I'll look up the statute and post it here for you. I have it on the hard drive somewhere.
Thanks for the question. Hope all is well for you. How is the bike riding?
From the Missouri Real Estate Commission Statutes and Rules
339.010. Definitions--applicability of chapter.
1. A "real estate broker" is any person, partnership, association or corporation, foreign or domestic who, for another, and
for a compensation or valuable consideration, as a whole or partial vocation, does, or attempts to do, any or all of the
following:
(1) Sells, exchanges, purchases, rents, or leases real estate;
(2) Offers to sell, exchange, purchase, rent or lease real estate;
(3) Negotiates or offers or agrees to negotiate the sale, exchange, purchase, rental or leasing of real estate;
(4) Lists or offers or agrees to list real estate for sale, lease, rental or exchange;
continued...
339.020. Brokers and salespersons, unlawful to act without license.
It shall be unlawful for any person, partnership, association or corporation, foreign or domestic, to act as a real estate broker
or real estate salesperson, or to advertise or assume to act as such without a license first procured from the commissionh.
Now unless I'm reading this wrong...
Have you found a great property management company yet? One in which will appreciate your referrals?
Advantage Homes LLC (dba Advantage Homes for Lease) is a LICENSED property management company located in the heart of Shawnee Mission.
We service all of the Kansas City Metro area, with single family rental homes, duplexes, townhomes, and more!
Visit our website, www.RentKcHomes.com; as a fellow RE agent we would love to build a lucrative business relationship.
Chris, I'd love to help your clients and yes we do have an exclusive in our management agreement, but for you we would be willing to waive that provided we get a referral fee.
What I do not want is to be the guy who leases the home so you can sell it. Gotta have a little give and take Chris.
I am the best in KC, I am licensed but I also need to make a living. I don't have all the little hidden surprise fee's most of the others have.
I am accredited, experienced and educated in property management and I have been a broker since the early 90's.
Let me know if I can be of assistance Chris.
Call me anytime! Ben 816-313-8876 http://www.turnkeyproperties.org
By not referring clients to someone because they also sell property, you may be doing a disservice to your clients, call me let's work out some details.
I'm a Property Manager for a class B Highrise in downtown KC, MO. who received my Real Estate Sales License about six months ago and asked this specific question to Brad at Career Education Systems who is a member of MREC. The answer to your question is no. A person hired by the ownership of a building acting as Manager may show space, negotiate Leases (obviously not preparing the Legal Document), collect rent, market the building, and perform any other duty as the Ownership's Representative. I noticed in another Blog related to this issue by you addressed some definitions obtained from MREC...."It shall be unlawful for any person, partnership, association or corporation, foreign or domestic, to act as a real estate broker
or real estate salesperson." This statement is absolutely true and I can easily see the confussion. The "duties" of PM's (licensed or not), are not addressed by this statute. "Acting as a Broker or Salesperson", (meaning REPRESENTING yourself as a Broker or Salesperson, is illegal if one is not actually licensed and actually a class B Law violation). Concerning liability from an owners perspective, I'd recommend that all PM's be licensed so that that person will act in the ethical and other mandated manners or else they may loose their license but in the state of Missouri, Property Managers do not need an active license. If you go to the local BOMA website (Building Owners and Managers Association, BOMAKC.ORG), you'll see a couple of openings for PM's that state "Must be able to receive a license within two years", and so forth, but to act as a PM, those duties will begin upon employment. I hear all the time about people collecting referrals fees that are not licensed and being brought up on charges for it... I imagine that due to this common practice or like, that the before mentioned statute concerning representing ones self as a lincesee was inacted.
Again, and I hate to keep saying this over and over, you are invited to call legal counsel of the Missouri Real Estate Commission. YOU DO HAVE TO BE LICENSED TO MANAGE PROPERTIES FOR PEOPLE.
Now if you are an employee of a building, that's different.
But I've grown bored with this subject so I'll say it one last time.
If you are a client of mine I recommend you have a property manager that is a licensed real estate agent in Missouri. If you choose to do otherwise you do so without my blessing.
Obviously, this confusion is convenient for many people and therefore they try to keep it that way.
Chris, great post!, You have received many comments, and I agree, this has grown old. Missouri Statutes are clear anyone engaging in property management must be a licensed agent under the direction of a Broker.
The only exception is a direct employee or an on-site manager of a particular property.
Your post addressed the fact that there are many people calling themselves property managers who are not licensed agents and therefore in violation of the laws of Missouri.
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