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An Oregon property management agreement sets out the rules and conditions of a working relationship between a property manager and the owner who hired them. The agreement puts each party’s responsibilities into writing to ensure they understand their roles and are legally protected if things go wrong. The form specifies how long the working relationship will last, how the owner will pay the manager, what the manager’s duties are, and the circumstances that would cause the agreement to terminate early.
Laws
License Required? – Yes. A property manager must have either a property management license or a principal broker license to manage property in Oregon (ORS 696.020).
Exceptions – Oregon statutes indicate a variety of exceptions to the licensing requirement for property managers. For example, a license is not required for the owner’s full-time employees or the employees of a principal real estate broker (ORS 696.03).
Written Agreement Required? – Yes. A written, unexpired property management agreement with the owner is required (OAR 863-025-0020).
Verify a Manager – orea.elicense.micropact.com