[ev780]

Originally Posted by lvoc

It is a question of how the state statute is written. What you describe in CO is clearly covered by the NV Real Estate statutes. Not only that but it requires a property management permit as well.

The only other way would be for the caretaker to be a direct employee of the owner. That works but requires the payment of FICA and tax withholding etc.

My guess is that someplace along the line RED will chop down on one or more of them to keep them away from the property management stuff. Note that informal property management arrangements are actually quite common and are mostly ignored unless they get to the servicing of multiple homes.

Note that it is the accommodating one that will get nailed.

So is this property management permit a paperwork exercise or are the requirements so burdensome that it is not feasable. Well I guess since no one has this kind of concierge service we have described, I have my answer.

Sounds like a business opportunity if you ask me. A true concierge/caretaker program would be awesome for second homeowners. The last thing I want to be doing is be changing lightbulbs and kitting toilets while I am on vacation. And someone to check up on the cleaning lady and landscaper. Priceless.

Fred

[airics]

To get a property management permit, there are classes and tests involved. I don't know if you have to be part of a brokerage

[NU2LV]

The companies described only work for the live in owner they look after a unit where the home owner is away on a extended vacation or in our case a second home. I had spoken with several Property Management companies and house sitting was not the business they are in. When we were looking at foreclosed homes there were sign in sheets for companies that go in and look around on the banks behalf are those property management companies or something else.

[lvoc]

Originally Posted by airics

To get a property management permit, there are classes and tests involved. I don't know if you have to be part of a brokerage

You have to have a property management permit and you must work for a brokerage with a property management permit.

Property management gets complex because of the financial management requirements. Whole set of requirements about maintaining clients funds etc. It is also one of the common violations you see at RE Board disciplinary sessions.

Our brokerage guy thought it would make a good business. The rub however is you have to compete with low over head operations that are not licensed for the basic house sitting function.

You could launch it as a premium service I would think. But it would make a lot more sense for an existing property manager who already has staff for minor repairs and such in place. And it appears they don't.