Question from Anon, Do I Need a Property Management License in Tennessee for Short-Term Rentals?
Answer from AI:
In Tennessee, the law generally requires individuals who engage in property management activities to hold a real estate broker’s license. This requirement is outlined in the Tennessee Real Estate Commission (TREC) laws. However, there are exceptions to this rule, and the specifics of your situation may affect whether you need a license.
What Does the Law Say?
According to the TREC, anyone who engages in the following activities needs a real estate broker’s license:
- Selling, exchanging, purchasing, renting, or leasing real estate.
- Offering to sell, exchange, purchase, rent, or lease real estate.
- Negotiating or offering to negotiate the sale, exchange, purchase, rental, or leasing of real estate.
- Listing or offering to list real estate for sale, lease, or exchange.
Are There Exceptions?
Yes, there are exceptions. For instance, if you are managing property that you own, you generally do not need a license. Additionally, if your duties are limited to certain tasks such as maintenance, rent collection, and tenant relations, and you do not engage in leasing or renting activities, you may not need a license. However, the specifics of these exceptions can be complex, and it’s important to consult with a legal professional to understand how they apply to your situation.
What About Short-Term Rentals?
The law does not specifically address whether a license is required for managing short-term rentals. However, if you are engaging in activities such as listing the property for rent, negotiating rental terms, or collecting rent, you may need a license.
What Should I Do?
If you’re unsure whether you need a license, it’s a good idea to consult with a legal professional. They can help you understand the laws and regulations that apply to your situation, and guide you through the process of obtaining a license if necessary.
Please note: This information is intended to provide a general understanding of the law. It is not intended to provide legal advice. Please consult with a legal professional for advice tailored to your specific circumstances.
The answer is written by AI.
The text above is written by AI, i.e., a computer.
Disclaimer: The information provided in this response is intended for general informational purposes only and should not be considered as legal advice. While we strive to provide accurate information, we make no guarantees regarding the accuracy or legal validity of the information presented. Laws and regulations vary by jurisdiction and can change over time, and the application of laws can vary widely based on the specific facts and circumstances involved. Therefore, you should consult with a qualified legal professional before making any decisions related to legal matters. Do not rely solely on the information provided in this response for any legal decisions. We disclaim any and all liability with respect to actions taken or not taken based on the contents of this response.
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