A North Carolina property management agreement is a document that establishes the relationship between a property owner and an individual or company hired to manage their real estate. This agreement states each service the manager is expected to provide, including all maintenance, administrative, and tenant-related responsibilities. It also outlines terms for the manager’s compensation. How the manager will get paid will vary depending on the contract, with some agreements giving them a percentage of the monthly rent and others providing fixed fees.
License Required? – Yes. Property managers must have a real estate broker’s license if they’re paid to sell or lease property for someone else (§ 93A-1, § 93A-2(a)).
Exceptions – The following are exceptions to the licensing requirement (§ 93A-2(c)):
