Oregon Property Management Agreement | Commercial & Residential

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Updated September 19, 2023

An Oregon property management agreement is a contract that is executed by a real estate broker and a property owner in which the broker agrees to manage the owner’s property. The document relays the terms of the agreement, including the type of compensation that the manager will receive, the authorities given to them, and the responsibilities of both the property manager and the owner. As a property manager, the broker will need to oversee the renting of the owner’s property to tenants and provide monthly accounting statements to the owner.

Laws

ORS 696.890 and 696.310

Requirements (§ 696.022, § 696.030, OAR 863-025-0020) – To be legally permitted to manage property, individuals must be licensed real estate brokers and operate under written agreements. However, this rule does not apply to property owners and their employees or attorneys-in-fact.

Verify a Property Manager – https://orea.elicense.irondata.com/