A Rhode Island property management agreement is used to define and regulate a working relationship involving a property owner and a property manager. With this contract in place, the manager can take care of landlord duties on the owner’s behalf, ranging from day-to-day upkeep to collecting rent and screening tenants. The manager’s specific responsibilities and payment terms will be outlined in the document, as well as both parties’ legal obligations and liabilities.
License Required? Yes. In Rhode Island, an individual or company that performs property management activities for others must either have a broker’s license or operate under the supervision of a licensed broker (230-30-20 R.I. Code R. § 2.12, R.I. Gen. Laws § 5-20.5-1(5)).
Exceptions – Rhode Island’s licensing requirement for property managers does not apply to the property owner or their regular employees (R.I. Gen. Laws § 5-20.5-2(a)).
Verify a Manager – elicensing.ri.gov