Updated on May 8th, 2023
A North Dakota property management agreement creates a working relationship in which a property owner pays a manager to look after their real estate. The agreement’s terms will vary depending on the type of property and what the owner requires. In all cases, it will say how much the manager will be paid, what services they’ll provide, how they’ll communicate with the owner, and when the agreement will start and end. If the contract involves rental property, it might outline rules for handling lease applications, security deposits, and rent payments.
License Required? Yes. Property managers must hold a license if they negotiate rental contracts, lease property, procure tenants, or provide other services that fall under the definition of a real estate broker. An exception to the licensing requirement applies to the property owner and their regular employees (§§ 43-23-05, 43-23-06.1(9) & 43-23-07(1)).
Verify a Manager – services.realestatend.org