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A Nebraska property management agreement is a written contract in which a landlord hire an individual to manage their property. The agreement details the ins and outs of the arrangement, including what the manager’s work will entail, their compensation (e.g., management fee, reduced rent), and the length of the contract. It ensures that the parties uphold their responsibilities and outlines the course of action in situations such as modifying leases, hiring contractors, and evicting tenants.
Laws
License Required? Yes, property managers in Nebraska must be properly licensed (Nebraska Real Estate Commission, § 81-885.01(2)). A license is not required in the following situations:
- Owner – An owner does not require a license to manage their property (§ 81-855.04(1)).
- Employee – An employee of either the owner or real estate broker does not require a license, provided that the selling or leasing of real estate is not the employee’s primary profession (§ 81-855.04(1)).
- Family member – An owner’s immediate family members do not require a license to manage the owner’s property (§ 81-855.04(4)).
- Resident manager – A resident manager residing on the premise does not require a license to manage the property (§ 81-855.04(4)).
Verify a Manager – nrec.igovsolution.net