The article discusses business activities in apartment buildings by management companies without a license and the risks that arise. A comparative analysis of the methods of managing apartment buildings in Russia and abroad is carried out. Licensing of business activities for the management of apartment buildings is carried out by the state housing supervision bodies of the constituent entity of the Russian Federation, in particular the state housing inspection. The article presents judicial practice when a management company, on the basis of the minutes of the general meeting of owners, without waiting for the decision of the state housing inspection to be included in the list of licensed organizations for a particular apartment building, begins to provide housing and communal services. Thus, if the management company actually provided services and has contracts with resource supply organizations, then carrying out business activities without a license is legal. Under such circumstances, management companies can provide housing and communal services and make a profit without a license.