California Property Management Agreement | Commercial & Residential

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Updated April 01, 2024

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 – 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.^[1]^[2]

Verify a Property Manager – California Department of Real Estate