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A Pennsylvania property management agreement is a contract used by a real estate owner and property manager to structure the terms of their professional relationship. The form will include the agreement length, service fees, procedures for handling property expenses, and the rights and duties of both parties. Most agreements allow the manager to perform general maintenance and repairs, but can also give them authority to manage tenants, including lease drafting and evictions.
Laws
License Required? – Yes. Pennsylvania real estate law states that if an individual or entity receives compensation to manage property, they must have a real estate license (§ 35.201).
Exceptions – An employee of a multifamily building does not need a license so long as they do not enter into leases, negotiate with tenants, or hold tenants’ money unless held on the owner’s behalf. Other license exemptions apply and can be found in Pennsylvania’s real estate licensing laws (§ 35.202).
Verify a Manager – www.pals.pa.gov