Property Management

In Oregon, what is a 'property management agreement' and what must it typically contain?

AA document only needed for commercial properties
BA written contract between the property owner and property manager defining the manager's authority, duties, compensation, reporting requirements, and term✓ Correct
CAn OREA form required to be filed for each managed property
DA verbal agreement that becomes enforceable after 90 days

Explanation

A property management agreement is a written contract establishing the relationship between a property owner and property manager. Oregon requires property management to be performed under written agreement.

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