TREC Clarification on Rental Property
April 20, 2017
The Tennessee Real Estate Commission clarified at their March 2017 meeting that licensed real estate agents who own rental property do not have to run the rental transactions through the firm with which they are licensed, nor is the agent obligated to set up a separate property management company. It was also noted that if the houses are owned by an LLC, rather than an agent, then everything should run through the agent’s company.
Please contact the Tennessee REALTORS® Legal Hotline or the Tennessee Real Estate Commission if you have specific questions related to this matter.