An agreement for property management must contain the following information, among others: Your obligations and liabilities. The owner's obligations and liabilities.
The exact fees that the owner is responsible for paying. At every main or branch office that the principal management broker has registered, the professional real estate activity must be under the supervision and control of the principal liabilities. Keep all records related to trust account reconciliations and related paperwork for at least six years, and upon request, give copies of these documents to OREA examiners. By the fifth banking day after the property manager receives the funds on behalf of a customer, the funds must be placed into the client's trust account.
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