Wisconsin Property Management Agreement | Commercial & Residential

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Updated September 19, 2023

A Wisconsin property management agreement is a legal contract designed to express the terms and conditions of an arrangement between an owner of real property and a property manager. Both parties will be bound to the agreement once it is signed and will have certain duties, obligations, and responsibilities to fulfill. The property manager may be responsible for tasks such as leasing and renting the property, dealing with tenants, handling repairs and maintenance, and other real estate related assignments. The owner is accountable for compensating the manager for their services and making sure they have everything they need to perform their job properly.

Laws

Requirements (§ 452.01 and § 452.03) – In accordance with Wisconsin’s real estate licensing law, a property manager that performs real estate broker duties (i.e., negotiating the sale of or renting property) must have a broker’s license.

Verify a Property Manager – Wisconsin Department of Safety and Professional Services