Free Delaware Property Management Agreement | Commercial & Residential - PDF

0.0 Stars | 0 Ratings

10 Downloads

Updated September 19, 2023

A Delaware property management agreement is a contract between a property owner and an individual they’ve hired to manage their real estate. Executing an agreement grants the manager permission to act in the owner’s place and perform activities that are legally reserved for landlords. Responsibilities typically entrusted to a manager include conducting repairs, snow removal, window cleaning, lawn care, and rent collection. If the manager is a licensed broker, they may also legally negotiate leases and advertise the owner’s property.

Laws – § 2902(18)

Requirements (§ 2902(2)) – Certain property management activities can only be performed by a licensed broker; a license is required if the manager leases or rents real estate, or attempts to lease or rent real estate, or negotiates leases or rental contracts. However, a license is not required when the manager exclusively performs “property management services” which includes the administration of property maintenance, collecting rent, and managing security deposits (§ 2902(18)).

Verify a Property Manager – Delaware Division of Professional Regulation