Must managing agents comply with any special 7 Department of Taxation requirements?

Yes. Every managing agent collecting rent on behalf of an owner must provide the Department of Taxation with certain information required on the first page of the rental collection agreement including the owner’s name, address, social security number, and, if available, general excise tax identification number, and the address of the property being rented.

The first page of the agreement or federal form 1099-MISC must be filed with the Department. Also, the rental agent must notify the owner that this information is being furnished to the Department and give the owner a copy of that notice.