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Property Manager Agreement - Oregon 2025

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The document is a Property Management Agreement between an Owner and a Manager for the management and operation of a specified property. It outlines the responsibilities of the Manager, including rent collection, property maintenance, compensation terms, and conditions for termination of the agreement. The agreement is subject to applicable laws and includes provisions for notices and severability.

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What is not included in a property management agreement?

In a property management agreement, items like the managers responsibilities, compensation, and reporting requirements are included. However, the rental price of each unit is typically not included, as it can vary based on market conditions.

What does a property management agreement typically include?

Put simply, this agreement defines the scope of services the property manager will provide, such as tenant sourcing, rent collection, maintenance, and more. Property management agreements typically outline compensation, including management fees and any additional costs.

Which of the following is a required element in an Oregon property management agreement?

A property management agreement must include, but is not limited to: ▪ The address of the owners property. Your duties and responsibilities. The duties and responsibilities of the owner. The specific charges that will be paid by the owner.

Which of the following is not required in terms of property management agreements?

The owners liability insurance certificate is not required in a written property management agreement. Required elements include the property address, the date of the agreement, and the term and termination method.

Does a property manager need a license in Oregon?

Oregon requires persons who manage real estate for another for compensation to hold a property managers license. ORS 696.030 provides some exemptions to the licensing requirements of ORS 696.010 and 696.020. One exemption is for persons who manage their own property.

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What is not required in a property management agreement?

Final answer: In a property management agreement, elements like the managers authority, the term of the agreement, and the management fee are essential; however, specifying the bank for the property managers trust account is not typically required.

What should a property managers contract include?

A well-drafted contract should clearly define the responsibilities of the property owner and the property manager regarding maintenance and repairs. This includes specifying who is responsible for routine maintenance, emergency repairs, and the process for obtaining approval for major repairs or renovations.