A Sales Agent or Broker license is required for any individual who, for another and for valuable consideration, engages in property management including advertising real estate for lease or rent, procuring prospective tenants or lessees, negotiating lease or rental terms, executing lease or rental agreements. A licensed Sales Agent and Associate Broker engaging in property management must be affiliated and supervised by a Principal Broker. The licensing requirement does not apply to an owner who manages his or her own property, an employee for one property owner, apartment managers who reside in the apartments at reduced rent, full-time salaried employees of a Homeowners Association, hotel or motel management, or management activities associated with rental accommodations for a period of less than 30 consecutive days.

Prior to opening a Real Estate Brokerage that desires to perform property management services, a Broker must submit to the Division:

• Completed and signed Real Estate Company/Branch Registration (Trust Account and Operating Account Documentation Requirements) along with this checklist .
• A Change Card  for licensee affiliating with the Real Estate Company.
• Certificate of Existence from the Utah Division of Corporations  showing the company is current and in good standing.
• Notarized letter on the company’s letterhead, signed by a company Officer, Manager/Member or Owner, authorizing the Broker to use the company name.
• Documentation from a financial institution less than 30 days old verifying a property management trust account on which the Broker is a signatory.
  Note: the Broker must have separate trust accounts for the property management transactions and for the real estate transactions. Click here for Trust Account and Operating Account Documentation Requirements.
• $200 non-refundable fee.