Updated on May 27th, 2023
A Delaware property management agreement allows a property manager to hire another party to manage landlord responsibilities on their behalf. The document will describe the responsibilities of both parties, including the manner in which the property manager will be compensated. The property manager will generally ensure rent is collected, new tenants are found if needed, reports are filed, and the property is well maintained. In some cases, the appointed manager may also have the right to list and sell the property.
License Required? Yes. Leasing, selling, renting properties, and negotiating rental contracts require a broker’s license (§ 2901(a)).
Property Management Services – A license is not required as long as the property manager does not engage in the purchase, sale, lease, or rental of the property (§ 2901(e)(5), § 2902(18)).
Verify a Manager – https://delpros.delaware.gov