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A property management agreement is established between a property manager and a property owner, outlining the manager's role and services. Property managers oversee property maintenance and may require a license, with only six states not mandating this for residential management. Responsibilities vary based on owner preferences, ranging from full management to limited involvement, such as paying utility bills. Common duties include collecting rent and security deposits and quickly filling vacancies. The agreement should detail management charges and essential contract elements to clarify expectations and responsibilities.
