Yes. Falls under the Washington State regulations. I have dealt with some property management companies and I have to question the reason why. I had a property manager for one of my rentals, and all they did was pre-qualify, maintain grounds, make a report now and then. Handling the rent payments was the most challenging part of their job. Oh of course they do have the renters sign a contract that is completely pre-formed. Not even close to all the legal contracts we as agents have to deal with.
Yes! You should contact the Department of Licensing for the guidelines for managing properties. There are new guidelines coming into effect on July 1, 2010 and it is important to be legal and in compliance.