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Colorado Property Management Agreement | Commercial & Residential

A Colorado property management agreement is used when a property owner hires a manager or management company to control and operate their real estate. In most cases, the manager will be a licensed real estate agent with the legal capacity to act on the owner's behalf and collect rent.
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Laws

Requirements – Property managers are required to have a real estate license if they engage in activities that fall under the state’s definition of a real estate broker (see § 12-10-201(6)(a)).[1]

This requirement does not apply if the manager is an on-site employee of an owner of an apartment building, apartment complex, or condominium. However, the on-site manager may only perform “customary duties” such as repairs and general property upkeep.[1]

Verify a Property ManagerColorado Department of Regulatory Agencies

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Sources

  1. § 12-10-201