If you’re considering managing vacation rentals in Florida, one question that may come to mind is whether or not you need a license. The answer is yes, but it’s not as straightforward as you might think.
What Is a Vacation Rental?
First, let’s define what we mean by “vacation rental.” In Florida, this term refers specifically to a dwelling unit that is rented out for periods of less than 30 days at a time. This can include apartments, houses, condos, and other types of residential properties.
Do You Need a Real Estate License?
If you’re planning to manage vacation rentals for others and collect a commission or fee for doing so, you will need a real estate license in the state of Florida. This applies regardless of whether the rental is for residential or commercial purposes.
There are two types of real estate licenses:
1. Broker’s license:
This is the higher-level license that allows you to operate your own real estate brokerage firm. To obtain this license, you must have at least two years of experience as an active licensed real estate sales associate.
2. Sales associate’s license:
This is the more common type of license and allows you to work under the supervision of a licensed broker. To obtain this license, you must complete 63 hours of pre-licensing education and pass the state exam.
The Role of Property Management Licenses
While having a real estate license is necessary for managing vacation rentals in Florida if you’re collecting fees or commissions from owners or renters, it’s not necessarily sufficient on its own. There are also property management licenses that apply specifically to those who manage properties on behalf of others.
In Florida, there are two types of property management licenses:
1. Community association manager (CAM) license:
This license is required for those who manage condo or homeowners’ associations that have more than 10 units or a budget of more than $100,000 per year. To obtain this license, you must complete 18 hours of pre-licensing education and pass the state exam. Real estate broker’s license with property management specialization:
This license is required for those who manage properties that belong to others in exchange for compensation. To obtain this license, you must first have a real estate broker’s license and then complete an additional 24 hours of education focused on property management.
The Bottom Line
In summary, if you plan to manage vacation rentals in Florida and collect fees or commissions for doing so, you will need a real estate license. However, if you also plan to manage properties on behalf of others, you may need a separate property management license as well.
As regulations can change from time to time it’s always best to keep yourself updated with the latest regulations and requirements by consulting the Florida Real Estate Commission.
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