What form must a property management agreement take to comply with Oklahoma's statutory standards?

To comply with Oklahoma's statutory standards, a property management agreement must be in the form of a written agreement. This requirement ensures that all terms, conditions, responsibilities, and obligations of both the property manager and the property owner are clearly outlined and legally enforceable. A written document provides a tangible record of the agreement, which helps protect both parties and reduces the likelihood of misunderstandings or disputes.

Having a written agreement is particularly important in property management as it typically involves ongoing relationships and financial transactions that need clarity and protection under the law. Thus, the written agreement serves as a formal contract that can be referred to in case of conflict or when the terms need to be enforced. By meeting this statutory requirement, property management companies and landlords ensure they operate within Oklahoma law, thereby safeguarding their interests and the interests of their clients.