California Property Management Agreement | Commercial & Residential

4.7 Stars | 30 Ratings

413 Downloads

Updated September 19, 2023

A California property management agreement is used to authorize a representative to manage real estate on behalf of a property owner. The duties of a manager typically involve collecting rent payments, administering repairs, leasing vacant property, and managing financial accounts. California’s real estate regulations limit the duties that can and cannot be performed by a manager who does not hold a broker’s license. Therefore, property owners should investigate the status of the manager’s license before drafting the agreement.

Laws

Requirements (BPC § 10131 & BPC § 10131.01) – A real estate license is required to perform the majority of property management acts in California. However, a license is not required if the manager is an employee of a licensed agent, a resident manager of an apartment building/complex, or an employee of a resident manager; the activities of a manager exempt from the state licensing requirement will be limited to the powers sanctioned under the statute.

Verify a Property Manager – California Department of Real Estate