Is there a risk using an unlicensed property management company to manage a rental property? 

What are the legal risks using a property management company that is not licensed?
It is illegal to operate as a property manager without a license; but it is also very illegal for the owner with significant repercussions. Just as it is illegal for me to give you legal advise without a license - please remember i am not an attorney & seek out adequate legal advice as these are just my opinions!
And getting caught is easy - You turn down a tenant for a rental - they will try to report you. Charge their security deposit - they will try to report you. Don’t make a repair, need to evict them - they will try to report you. A real estate agent wants a commission, or a rival property management broker is petty? They will report you.
I know one broker, who operates just enough to support himself as a real estate agent, who spends his time checking websites, email signatures & pulling up licenses.
He’s a Philadelphia property management company & real estate agent tattle-tale.
These Philadelphia agencies will often turn down their claims, but only after they check the legality of the landlord or the property management company. Getting caught is easy and likely. You have people out there actually hunting.
If I was a landlord - Not only would I be terrified of the legal ramifications; I would think the state would take bank accounts, I would think they would force the property owner to refund all the rents the tenant every paid as a rental property is a business & since this was an illegally run business, they would refund the consumer.
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The Grow Real Estate Investing Podcast is by Joe White, the Broker/Owner of Grow Property Management, a Philadelphia Rental Property Management Company. As a property manager, he has managed hundreds of rental properties, managed flips, and has helped clients in rental property, bought and sold. He uses experience and exposure to Philadelphia's top property investors to create simple, to-the-point real estate investing concepts for beginners, to advanced real estate investors managing large portfolios.
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