Property Management Form
Want to hire an individual in AZ to manage my property - anyone have any Real Estate Management Contracts they can pass along? Thanks RJH 8-)
Want to hire an individual in AZ to manage my property - anyone have any Real Estate Management Contracts they can pass along? Thanks RJH 8-)
I am curious, does a property manager have to be a real estate broker? I have heard that in FL many times, but have never seen it written.
Your question made me wonder why the property manager does not have a contract? Is it a professional property manger with other properties?
Brenda
Contact a local property management company and ask them for a copy of their management agreement.
Contact a property management company in AZ and ask for a copy of their lease agreement.
If you want to hire an individual to manage your property, you are hiring an employee. You will also need a W-2 from this person so you can withhold income and employment taxes and file withholdings for your employee. Talk with your insurance company about having your employee bonded and to purchase the proper liability insurance to cover your employee's actions.
The property management agreement will give you an idea of the language you need to incorporate into your employment agreement with your employee. The lease agreement you obtain will likely already conform to AZ landlord tenant laws.
In most areas, an individual who is your direct employee does not need a real estate license to manage your property.
If you want to hire an indepent contractor as a property manager, then your manager will most likely need to comply with the state real estate licensing requirements for a property manager.
Have a contractor friend who will manage my property - just wanted to have a written agreement to give me some guidance as what to write up.
RJH
To Bgrossnickle:
Kerry here, Port St. Lucie. Where do you hear that you need to have a RE broker be the property manager? I know of a property manager who takes care of 6 apartment buildings in their spare time... and they cut lawns for a living.
My nicl
kles worth tells me that if a person is qualified and the price is right...hire them!! Under contract of course.
Kerry
[addsig]
I have heard that you must be a Realtor broker many times. Mostly from property managers. I belong to a property manager subgroup of my local REI. As I said, I have never seen it written but they all say that you must be a broker.
>>Have a contractor friend who will manage my property
If is he not a professional property manager I would not let him manage. Do you know that he will do a good www.job.own
According to FL statutes Chapter 475 you are a broker if you accept any form of compensation for helping to lease or rent. I am assuming that a broker is a regulated term.
So if you think you have liability exposure as a landlord, try hiring an illegal property manager. If you get sued then you might has well just hand over the keys.
(a) "Broker" means a person who, for another, and for a compensation or valuable consideration directly or indirectly paid or promised, expressly or impliedly, or with an intent to collect or receive a compensation or valuable consideration therefor, appraises, auctions, sells, exchanges, buys, rents, or offers, attempts or agrees to appraise, auction, or negotiate the sale, exchange, purchase, or rental of business enterprises or business opportunities or any real property or any interest in or concerning the same, including mineral rights or leases, or who advertises or holds out to the public by any oral or printed solicitation or representation that she or he is engaged in the business of appraising, auctioning, buying, selling, exchanging, leasing, or renting business enterprises or business opportunities or real property of others or interests therein, including mineral rights, or who takes any part in the procuring of sellers, purchasers, lessors, or lessees of business enterprises or business opportunities or the real property of another, or leases, or interest therein, including mineral rights, or who directs or assists in the procuring of prospects or in the negotiation or closing of any transaction which does, or is calculated to, result in a sale, exchange, or leasing thereof, and who receives, expects, or is promised any compensation or valuable consideration, directly or indirectly therefor; and all persons who advertise rental property information or lists. A broker renders a professional service and is a professional within the meaning of s. 95.11(4)(a). Where the term "appraise" or "appraising" appears in the definition of the term "broker," it specifically excludes those appraisal services which must be performed only by a state-licensed or state-certified
Do not compensate for helping rent or lease. Flat payment as property manager. Would that work?
Job duties: clean, fix, pass out applications, forward requests to owner, pass on approvals of owner, hand keys to tenants.
Am I on to a legal method here? Never a commission, always a flat rate.
Alan
-When you find a job you love, you never work another day in your life!-
give free or discounted rent in exchange for managing the place. Realtors and their Brokers are not in the rental business. They are buying and selling property not renting it.
Josh
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No offense, but try reading the statute and not making up what you missed it said.
"valuable consideration directly or indirectly paid or promised, expressly or impliedly" - surely a flat fee or free rent is valuable consideration.
Brenda