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A property management agreement outlines the relationship between a property manager and property owner(s). Property managers are tasked with overseeing and maintaining properties. In many states, a property management license or real estate license is required, with only Kansas, Maine, Maryland, Massachusetts, and Vermont not mandating either. The responsibilities of a property manager can vary based on owner preferences; some may want full management, while others may wish to maintain some control, such as paying utility bills. Common duties include collecting rent and security deposits and ensuring timely filling of vacancies.