In Kentucky, what must be signed to work as a property manager for an owner?

In Kentucky, a signed, written property management agreement is required to work as a property manager for an owner. This agreement explicitly outlines the rights and responsibilities of both the property manager and the property owner, including the scope of services to be provided, compensation, and any specific conditions related to managing the property. Having a written agreement is essential for establishing a clear, legal relationship between the parties involved and ensuring compliance with state regulations regarding property management.

An oral agreement lacks the legal enforceability and clarity that a written document provides, which can lead to misunderstandings or disputes in the future. A lease agreement is not sufficient for property management purposes, as it primarily pertains to the terms and conditions of renting the property rather than the management of the property itself. Similarly, a broker agreement might be related to a real estate transaction, but it is distinct from the specific responsibilities and commitments involved in managing the property on behalf of the owner. Therefore, a written property management agreement is not only a best practice but a legal necessity in Kentucky for those looking to serve as property managers.