Laws
License Required? Yes. Several duties that a property manager will often need to carry out, such as renting and leasing a property, require a broker’s license (§ 12-10-202).
Agreement Requirements – This agreement must be drafted by an attorney and include information such as (Colorado Dept. of Regulatory Agencies, Rule 7.1.B):
- A sentence stating: “This form has not been approved by the Colorado Real Estate Commission.”
- The name of the attorney or legal firm who drafted the document.
- The name of the broker, employing broker, or brokerage business for which the form was created.
Exceptions – Salaried on-site managers of condominiums or apartments are exempt as long as they only carry out “customary duties” for their employer (§ 12-10-201(6)(b)(12) & (13)).
Verify a Manager – https://apps.colorado.gov/