AboutMike Fortunato Expertise Can answer questions on all aspects of commercial real estate management, including lease administration, eviction issues, financial reporting and budgeting, asset valuation/enhancement, marketing & leasing, and site maintenance and repairs. 20+ years of real estate management.
Experience 20+ years in commercial management. Current own and operate property management company in southern California.
Question Hi,
My mother and father own a shopping center and I am going to manage it. It is in Naples, Florida. I wanted to start a business to run this venture through and was wondering what the best type would be. Also, is any type of license required. It is a retail shopping center. Do I need to get a business license? I will be paid a salary with no commissions. I am getting my real estate license. Is that enough or would it have to be registered under a broker. Any help you could give me would be greatly appreciated. Thanks for your time.
Jennifer
Answer I'm not sure about the rules in Florida. Here in California, you would be able to manage a family-owned property without a real estate license. However, to manage properties for outside clients, you would need a real estate broker's license to operate a management company. In either case, you would probably need to obtain a business license, assuming your city requires one. As for the type of entity for your business, there's no way for me to advise you on that as there are lots of factors to consider. You probably should discuss that one with an attorney.
