Florida Property Management Agreement

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Florida Property Management Agreement

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Last updated May 27th, 2023

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A Florida property management agreement is a contract between a real estate owner and a third-party manager hired to oversee their property. A property manager will often collect rent, find tenants, and maintain the property. The agreement will outline the duration of the contract and how much the manager will be compensated for their services, which will often be in the form of a flat fee or a percentage of the monthly rent. The signed contract obligates both parties to carry out their described responsibilities until the end of the term.

Laws

License Required? Yes. Any individual leasing or renting a property in exchange for a fee must have a broker’s license (§ 475.01(1)(a), § 475.181).

Exceptions – There are some notable exceptions to the Florida licensing requirements:

  • An individual who manages their own real property is exempt (§ 475.011(2)).
  • If the manager is a salaried employee of the property owner or of a registered broker of the property owner (applies only to apartment communities) (§ 475.011(4)).
  • If the individual is employed as a manager of a cooperative apartment or condominium complex and arranges rentals for one-year periods or less (§ 475.011(5)).

Verify a Manager – https://www.myfloridalicense.com