Indiana Property Management Agreement | Commercial & Residential

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Updated September 19, 2023

An Indiana property management agreement sets forth terms between a professional property manager and an owner of real estate. The agreement provides the manager with the ability to perform real estate services that would otherwise be unlawful for anyone but the owner. These activities might include hiring labor for repairs, depositing funds into financial accounts, drafting leases, evicting tenants, and advertising rental units online. Also covered by the agreement is the management fee, which is usually a commission or flat rate depending on the circumstance.

Laws

Requirements (IC 25-34.1-3-2(3)) – Indiana law prohibits individuals from managing property without first obtaining a real estate license. However, the licensing requirement does not apply if the manager is an employee of a licensed broker or a full-time employee of an owner (see IC 25-34.1-3-2(3)(b) for all licensing exemptions).

Verify a Property Manager– Indiana Professional Licensing Agency