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Updated on May 8th, 2023
An Ohio property management agreement is a contract between a property owner and a property manager that defines the terms and conditions of their professional relationship. Although each contract will be different, the standard features of the form include the agreement length, management fees, termination procedures, and the duties assigned to the property manager. Completing the agreement helps avoid confusion and ensures both parties understand their roles and obligations.
Laws
License Required? – Yes. In Ohio, a real estate license is required to do most tasks related to property management, such as renting out property, evaluating lease applications, and negotiating contracts with prospective tenants (§ 4735.01(A), § 4735.02).
Exceptions – A license is not required in certain situations, like when the property is managed by the owner, the owner’s employees, or the custodian, caretaker, or janitor of a property whose duties are restricted to overseeing, managing, and leasing (§§ 4735.01(A)(5), 4735.01(I)).
Verify a Manager – elicense3.com.ohio.gov
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