Montana Property Manager Licensing
Montana is distinctive in separately licensing property managers apart from brokers and salespersons. This chapter explains the property manager credential and how it differs from a broker license.
A Separate License
Montana issues a distinct property manager license under Title 37, Chapter 51 MCA (the property manager provisions in the Section 37-51-600 range). A property manager license authorizes the licensee to lease and manage real property for others and to collect rents, but it is a separate credential from the broker and salesperson licenses. Not every state licenses property managers separately, so this is a Montana-specific feature.
Scope and Trust Money
A Montana property manager handling rents and security deposits must maintain trust accounts and follow the Board's rules for client money, similar to a broker handling escrow. The property manager's authority is limited to property management activities; buying and selling real estate for others requires a broker or salesperson license. Brokers who also manage property must understand which license covers the activity.
Broker Awareness
A Montana broker should understand the boundaries of the property manager license so the firm does not have unlicensed persons performing management activities or licensees acting outside their authority. Because Montana treats property management as its own regulated activity, a broker supervising rental operations must ensure the correct license is held for the work being done.