How to Fire Your Property Manager in Wyoming

A step-by-step guide for Wyoming landlords switching property managers, covering broker trust accounts, the handover, tenant deposits and who may manage rentals for pay.

Last updated September 23, 2026

Missed repairs, slow replies, a statement that never adds up. Most landlords wait too long to make the call.

Wyoming does not hand you a statutory deadline for the handover the way some states do. What it does hand you is a licensed broker on the other side of the table, one with trust account duties and a commission that can take their license. Use that.

Here is how to make the switch without losing a deposit, a tenant or a month of rent.

Step 1. Read your management agreement

Your contract decides how you exit. Wyoming law leaves the terms to you and the broker, so read all of it.

Notice period. Thirty days' written notice is common. Check the exact wording and the exact address it has to go to.
Termination fee. Some agreements charge one, some do not.
Leasing fee clawbacks. Look for anything you owe on tenants the manager placed.
Who "owns" the tenant relationship. Some agreements try to charge you for keeping a tenant they found.
Renewal and auto-renewal dates. Miss one and you buy another year.

If the manager broke the agreement, for example by ignoring repairs or mishandling money, you may be able to end it sooner. Ask a Wyoming attorney before you rely on that.

Step 2. Send written notice

Put it in writing, by email and by the method your agreement names, with proof of delivery. State the end date, ask for a full handover by that date, and list what you expect back (see Step 4).

Keep the tone flat and factual. You want your records, not an argument.

Step 3. Know the trust account rules

A Wyoming responsible broker has to keep money belonging to others in a trust or escrow account at a financial institution in this state, kept separate from their own funds (Wyo. Stat. § 33-28-122). The only personal money allowed in that account is what it takes to open it, keep it open or avoid a minimum balance charge.

Three grounds for discipline are worth quoting back to a slow manager.

Commingling the money or property of others with their own (§ 33-28-111(a)(xiv))
Failing to account for any money or property received from others (§ 33-28-111(a)(xxv))
Failing to give a full accounting on termination of the transaction, showing dates of deposit, management and withdrawals (§ 33-28-111(a)(xxviii))

Deposits into the trust account have to happen within one banking day (§ 33-28-111(a)(xxvii)). The commission has to be told where the trust account is, and it may examine the accounting records (§ 33-28-122). The Wyoming Real Estate Commission's Chapter 5 rules cover brokers' trust accounts in more detail.

Interest on trust funds is paid out as all interested parties agreed in writing. With no written agreement, it goes to whoever put the money in (§ 33-28-122).

If the handover stalls or the numbers do not add up, file a complaint with the Wyoming Real Estate Commission. Fines run up to $2,500 per violation (§ 33-28-111).

Step 4. Collect everything

Ask for all of this before the end date.

Security deposits for every tenant, with the amount held for each one, plus any nonrefundable portion identified
The trust account ledger showing rents collected, fees taken and what is still owed to you
Signed leases, renewals and addenda
Any move-in condition reports the tenants signed
Tenant contact details and payment history
Open maintenance requests, vendor contacts, invoices and warranties
Keys, fobs, garage remotes and codes
Year-to-date income and expense reports for your taxes

Move fast on the paper. A Wyoming broker only has to keep transaction records for two years from the last date the company took part in the transaction (§ 33-28-123). After that they can be gone for good.

Step 5. Move the security deposits

Get every deposit transferred to you in full, with a per-tenant breakdown. Wyoming does not require a landlord to hold deposits in a separate escrow account, so once the money is yours there is no statutory account rule to follow. Open a separate account anyway. When a tenant disputes a deduction two years from now, a clean account is your evidence.

Two deposit rules follow the money to you.

The nonrefundable disclosure. Any nonrefundable portion has to be stated in the rental agreement, with written notice given to the renter at the time the deposit is taken (Wyo. Stat. § 1-21-1207). Check the leases you inherit. If the old manager never did this, treat the whole deposit as refundable.

The return clock. At move-out you deliver the balance, any prepaid rent and a written itemization within 30 days of termination, or 15 days after the renter gives you a forwarding address, whichever is later, with 30 more days if the unit is damaged (§ 1-21-1208(a)). An owner who unreasonably fails to do that can be ordered to return the whole deposit plus court costs (§ 1-21-1208(c)).

You inherit those deadlines the day you take the deposits. Diary them.

Step 6. Tell your tenants

Tenants care about three things. Where to pay rent, who to call for repairs, and whether their deposit is safe. Send one clear message covering all three, dated, with the day the change takes effect.

Say in that message that you now hold their deposit and confirm the amount. It heads off the argument later.

Step 7. Take over the day-to-day

Line up your vendors, set up rent collection, and get a maintenance line that picks up at 2am. Wyoming puts the repair duty on you directly. The unit has to stay reasonably safe, sanitary and fit to live in, with the electrical, plumbing, heating and water systems working (§ 1-21-1203). A tenant who writes to you and gets nothing can escalate to a certified-mail notice to repair and then to circuit court (§ 1-21-1206).

Who can manage property for pay in Wyoming

Real estate activity in Wyoming needs a license. It is unlawful to engage in real estate activity, directly or indirectly, or to hold yourself out as doing so, without one (Wyo. Stat. § 33-28-101).

The definition is broad. Real estate activity takes in anyone who for compensation rents, manages or leases real estate, or collects or agrees to collect rent for the use of real estate. Property management gets its own definition, meaning management for compensation of real estate for another, including collection of rents, maintenance and accounting (§ 33-28-102).

The owner exemption. The chapter does not apply to an owner of real estate, a member of the owner's immediate family, or the owner's regular employees, with respect to property the owner owns, so long as that person is not a licensee (§ 33-28-103). Self-managing your own rentals needs no license.

The resident manager exemption. A person acting as resident manager for an owner or for a responsible broker at an apartment building, duplex, apartment complex or court is exempt when they live on the premises and lease as part of that job, so long as they are not a licensee (§ 33-28-103).

Two more to know before you hire the next manager. Paying an unlicensed person for work that needs a license is itself unlawful (§ 33-28-110), and an unlicensed person cannot sue you for their fee (§ 33-28-115). Conducting business without a license carries penalties and civil liability (§ 33-28-114). Check the license on the Wyoming Real Estate Commission's site first.

Your switching checklist

Read the agreement for notice, fees, clawbacks and auto-renewal
Send written notice with an end date and proof of delivery
Demand the trust account accounting in writing
Collect deposits, ledgers, leases, condition reports and keys inside the two-year records window
Put deposits in a separate account and diary the 30-day return clock
Check every inherited lease for the nonrefundable deposit disclosure
Tell tenants where to pay, who to call, and that you hold the deposit
Verify the next manager's license before you sign

Switch to Taz

Taz is an AI property manager built for landlords who have been let down before. It answers tenants day and night, routes repairs to vendors, sends rent reminders and keeps every record in one place, for a flat monthly price per door instead of a cut of your rent. See how Taz works.

Where this guide says a state has no rule on something, that means we found no statute setting one, which is not the same as none existing. Local ordinances and court practice can add requirements. Confirm anything you plan to rely on.

This guide is general information, not legal advice. Your management agreement and your specific facts matter. Talk to a Wyoming attorney before ending a contract. Last checked September 2026.