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A property management agreement is established between a property manager and property owner, outlining roles and responsibilities. Property managers oversee and maintain properties, with many states mandating a property manager or real estate license, excluding Kansas, Maine, Maryland, Massachusetts, and Vermont. Their duties vary based on client preferences—some owners want comprehensive management while others prefer to retain control over specific tasks, like paying utilities. Common responsibilities include collecting rent and security deposits and efficiently filling vacancies. The summarized content emphasizes the importance of defining specific roles and management charges within the contract.
