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A property management agreement is established between a property owner and a property manager, detailing the responsibilities and charges associated with management. Property managers oversee and maintain properties and are often required to have a license, with only six states exempting this requirement. Their responsibilities vary based on client preferences; some owners delegate all management tasks, while others retain control over specific areas like utility payments. Common duties include collecting rent and security deposits and quickly filling vacancies to ensure property profitability. The agreement should outline these duties and any management fees.
