What is required for a qualifying broker to assign a management contract to another brokerage?

For a qualifying broker to assign a management contract to another brokerage, it is essential to obtain the property owner's written consent. This requirement protects the interests of the property owner by ensuring they are fully informed and have agreed to the transfer of management responsibilities to another entity. The written consent provides a clear and verifiable record of the property owner’s approval for the assignment, thereby mitigating any potential disputes that could arise from the transition of management.

While other options may seem relevant, they do not fulfill the legal necessity of having the property owner's explicit written consent. A verbal agreement, for example, lacks the documentation to establish legally binding consent and may lead to misunderstandings regarding the terms of the assignment. Similarly, while a new agency agreement might be necessary under certain circumstances, it is not a prerequisite for assigning an existing management contract unless specified. Thus, ensuring the property owner's written consent is a fundamental part of the process for a qualifying broker in this context.