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A property management agreement is established between a property manager and the property owner, outlining responsibilities and fees. Property managers oversee and maintain properties and often require a license, with only six states (Kansas, Maine, Maryland, Massachusetts, and Vermont) not mandating one. Their duties vary based on the owner's preferences; some owners prefer full management, while others retain certain controls, like paying utility bills themselves. Common responsibilities include collecting rent and security deposits, and promptly filling vacancies. The specific management charges and contract terms should be detailed in the agreement to ensure clarity and alignment with the owner's needs.
