In Tennessee, a Tennessee Property Management Agreement is created which acts as a legally binding document between the property owner and the party that has been chosen to manage a property. This agreement would grant the manager certain powers to carry out their role which legally hold the same weight as if these roles were done by the owner. Such roles include finding new tenants by advertising the property, showing potential tenants the estate, and creating all of the documents as well as charging rent and allocating fees for violations, if they have occurred. The manager should also answer for the condition of the property and decide on any repairs.
In Tennessee, if an individual wants to work as a property manager, they would usually need to obtain a real estate agent license. However, this is not always necessarily the case as it is still possible to operate with limited functions.
To ensure that all of the vital components are included in the document, we would recommend downloading a Tennessee Property Management Agreement template by clicking the link below.
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