Free Montana Property Management Agreement | Commercial & Residential - PDF

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Updated September 19, 2023

A Montana property management agreement is a contract between a property owner and an agent by which the agent agrees to act as the property manager on the owner’s behalf. As a property manager, the agent is responsible for overseeing the upkeep of the property and its rental units, including renovations, repairs, and landscaping. The manager must also advertise the property for a profitable rate and sign-on new tenants whenever units become available. The agent will receive as compensation a flat rate or percentage of the gross rental income associated with the properties that they manage. The owner will often also provide additional funds for advertising and maintenance.

Laws

Requirements (§ 37-51-601, § 37-51-602) – Except for the property owner or the property owner’s relative, employee, or attorney-in-fact, it is illegal to operate and advertise as a property manager in the state without a property management license.

Verify a Property Manager – https://ebiz.mt.gov/