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A property management agreement is created between a property manager and the owner of one or multiple properties. Property managers are responsible for the oversight and maintenance of properties, and many states require them to have a property manager or real estate license. Duties can vary depending on client requirements, with responsibilities typically including rent and security deposit collection, filling vacancies quickly, and handling property maintenance. Some owners prefer more control, such as paying their utility bills. Only six states do not require property managers to have a license.
