A Michigan property management agreement is used to hire a property manager and define how they’ll carry out their job. The document is drafted to establish the terms and conditions of the manager’ position. Generally, a property manager is responsible for maintaining the premises, handling rent payments and security deposits, and finding and screening tenants.
A Michigan property management agreement is used to hire a property manager and define how they’ll carry out their job. The document is drafted to establish the terms and conditions of the manager’ position. Generally, a property manager is responsible for maintaining the premises, handling rent payments and security deposits, and finding and screening tenants.
License Required? Yes, property management can only be performed by a licensed real estate broker, with the exception of a property owner managing their own property (§ 339.2501(u), § 339.2503(1)).
Agreement Required? Yes, a property management agreement is legally required in Michigan (§ 339.2512c(1)).
Verify a Manager – lara.michigan.gov
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