Share:

If you own a rental property, whether it's a single home or an entire complex, you may want to work with a property management company to handle the bulk of your day-to-day tasks. The state of Alaska has fairly strict laws that determine who can and cannot legally operate as a property manager. As such, it's important you are aware of these regulations when hiring a professional to ensure you don't put yourself, your tenants, or your investment at risk.

Licenses

Alaska's real estate laws require all property managers to be licensed as a broker or salesperson to handle management tasks like leases, property listings, and collection of tenant fees and rent. Both brokers and salespersons achieve licensing through a combination of education and certification testing, but a real estate salesperson must work under a licensed broker to legally handle the tasks mentioned.

Why Alaska's Laws Should Dictate Your Property Manager Choice | Nova Property Management in Anchorage, AKThese regulations should guide your management search because it could affect your bottom line in the future. If your property manager ends up causing your tenants or their property any harm, you may be held liable and face serious financial repercussions through lawsuits and government penalties. To avoid such a situation, you need to thoroughly vet a property management company and ensure they have all the correct licensing in place before you work with them.

Insurance

The state government also requires all licensed real estate professionals to carry errors and omissions insurance, which is a type of liability coverage. While this rule helps protect the property manager, it can also benefit you. In the event their services or advice cause you a financial loss, you can sue for negligence. 

 

Avoid the complications of running your rental units by turning to the professionals at Nova Property Management in Anchorage, AK. For more than 35 years, these licensed real estate professionals have assisted property owners with their needs, including rent collection, lease documentation, and around-the-clock maintenance. Request a consultation with a property manager today by calling (907) 522-1332, and visit them online to learn more about what they do.

 
tracking