Property Management
What is a 'management agreement' in Idaho real estate and what must it contain?
AAn informal verbal agreement between property owner and manager
BA written contract specifying the scope of management services, fees, authority granted, duration, and termination provisions✓ Correct
CAn IREC-mandated form filed before managing any property
DA contract that automatically renews unless one party dies
Explanation
A property management agreement is a written contract that defines: scope of services (leasing, maintenance, rent collection), management fee structure, owner's authority vs. manager's authority, reporting requirements, term and termination procedures, and trust account handling. Idaho requires that property managers acting for compensation hold a real estate license.
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