Updated on May 26th, 2023
A California property management agreement is used to hire a third party to perform landlord duties on behalf of a property owner. The document describes the hired manager’s role and how they will be compensated for their services. Ensuring the property is well maintained, the rent is collected, managing reports, and dealing with tenants are just some responsibilities a property manager may be required to carry out. A well-drafted document will provide legal protection to all parties and ensure the manager and the property owner know their rights and responsibilities.
License Required? Yes. Many of the required duties of the property manager require a real estate license, including soliciting prospective tenants and leasing or renting property on behalf of another party (§ 10130, § 10131).
Exceptions – A manager may be exempt from state licensing laws if they are a resident manager of an apartment building or complex, an employee of a resident manager, or an employee of a licensed agent or firm (§ 10131.01).
Verify a Manager – https://www2.dre.ca.gov