An Alaska property management agreement is a legal document that outlines the responsibilities of a manager hired by an owner of residential or commercial property. The property manager can be an individual or a management company as long as the person overseeing the property is a licensed real estate broker.
A property management agreement defines the relationship between the parties describing their obligations and responsibilities, their right to terminate the agreement, the compensation amount, and other representations and conditions.
License Required? Yes, a real estate license is required if a person will perform property management duties. A property manager must disclose that they are a licensed agent to prospective tenants (12 AAC 64.570).
Agreement Required? Yes, if a licensed manager is to engage in property management activity, an agreement must be made between the parties (12 AAC 64.550).
Verify a Manager – www.commerce.alaska.gov