diff --git a/sdk/servicebus/service-bus/CHANGELOG.md b/sdk/servicebus/service-bus/CHANGELOG.md
index 8f0faced798f..5765fe559299 100644
--- a/sdk/servicebus/service-bus/CHANGELOG.md
+++ b/sdk/servicebus/service-bus/CHANGELOG.md
@@ -13,9 +13,12 @@
 
 - `NamespaceProperties` interface property "messageSku" type changed from "string" to string literal type "Basic" | "Premium" | "Standard". [PR 11810](https://github.com/Azure/azure-sdk-for-js/pull/11810)
 
+- Internal improvement - For the operations depending on `$management` link such as peek or lock renewals, the listeners for the "sender_error" and "receiver_error" events were added to the link for each new request made before the link is initialized which would have resulted in too many listeners and a warning such as `MaxListenersExceededWarning: Possible EventEmitter memory leak detected. 11 sender_error listeners added to [Sender]. Use emittr.setMaxListeners() to increase limit`(same for `receiver_error`). This has been improved such that the listeners are reused.
+  [PR 11738](https://github.com/Azure/azure-sdk-for-js/pull/11738)
+
 ### Breaking changes
 
-- The `createBatch` method on the sender is renamed to `createMesageBatch`
+- The `createBatch` method on the sender is renamed to `createMessageBatch`
 - The interface `CreateBatchOptions` followed by the options that are passed to the `createBatch` method is renamed to `CreateMessageBatchOptions`
 - The `tryAdd` method on the message batch object is renamed to `tryAddMessage`
 - `ServiceBusMessage` interface updates:
diff --git a/sdk/servicebus/service-bus/src/core/managementClient.ts b/sdk/servicebus/service-bus/src/core/managementClient.ts
index 2e9417f1c63e..570835373d2a 100644
--- a/sdk/servicebus/service-bus/src/core/managementClient.ts
+++ b/sdk/servicebus/service-bus/src/core/managementClient.ts
@@ -4,15 +4,14 @@
 import Long from "long";
 import {
   EventContext,
-  ReceiverEvents,
   ReceiverOptions,
   message as RheaMessageUtil,
-  SenderEvents,
   SenderOptions,
   generate_uuid,
   string_to_uuid,
   types,
-  Typed
+  Typed,
+  ReceiverEvents
 } from "rhea-promise";
 import {
   AmqpMessage,
@@ -226,15 +225,26 @@ export class ManagementClient extends LinkEntity<RequestResponseLink> {
         name: this.replyTo,
         target: { address: this.replyTo },
         onSessionError: (context: EventContext) => {
-          const ehError = translate(context.session!.error!);
+          const sbError = translate(context.session!.error!);
           managementClientLogger.logError(
-            ehError,
+            sbError,
             `${this.logPrefix} An error occurred on the session for request/response links for $management`
           );
         }
       };
-      const sropt: SenderOptions = { target: { address: this.address } };
+      const sropt: SenderOptions = {
+        target: { address: this.address },
+        onError: (context: EventContext) => {
+          const ehError = translate(context.sender!.error!);
+          managementClientLogger.logError(
+            ehError,
+            `${this.logPrefix} An error occurred on the $management sender link`
+          );
+        }
+      };
 
+      // Even if multiple parallel requests reach here, the initLink secures a lock
+      // to ensure there won't be multiple initializations
       await this.initLink(
         {
           senderOptions: sropt,
@@ -242,37 +252,37 @@ export class ManagementClient extends LinkEntity<RequestResponseLink> {
         },
         abortSignal
       );
-
-      this.link!.sender.on(SenderEvents.senderError, (context: EventContext) => {
-        const ehError = translate(context.sender!.error!);
-        managementClientLogger.logError(
-          ehError,
-          `${this.logPrefix} An error occurred on the $management sender link`
-        );
-      });
-      this.link!.receiver.on(ReceiverEvents.receiverError, (context: EventContext) => {
-        const ehError = translate(context.receiver!.error!);
-        managementClientLogger.logError(
-          ehError,
-          `${this.logPrefix} An error occurred on the $management receiver link`
-        );
-      });
     } catch (err) {
       err = translate(err);
       managementClientLogger.logError(
         err,
-        `${this.logPrefix} An error occured while establishing the $management links`
+        `${this.logPrefix} An error occurred while establishing the $management links`
       );
       throw err;
     }
   }
 
-  protected createRheaLink(options: RequestResponseLinkOptions): Promise<RequestResponseLink> {
-    return RequestResponseLink.create(
+  protected async createRheaLink(
+    options: RequestResponseLinkOptions
+  ): Promise<RequestResponseLink> {
+    const rheaLink = await RequestResponseLink.create(
       this._context.connection,
       options.senderOptions,
       options.receiverOptions
     );
+    // Attach listener for the `receiver_error` events to log the errors.
+
+    // "message" event listener is added in core-amqp.
+    // "rhea" doesn't allow setting only the "onError" handler in the options if it is not accompanied by an "onMessage" handler.
+    // Hence, not passing onError handler in the receiver options, adding a handler below.
+    rheaLink.receiver.on(ReceiverEvents.receiverError, (context: EventContext) => {
+      const ehError = translate(context.receiver!.error!);
+      managementClientLogger.logError(
+        ehError,
+        `${this.logPrefix} An error occurred on the $management receiver link`
+      );
+    });
+    return rheaLink;
   }
 
   /**