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In this video, Kyle from Trudeau Property Management discusses the typical duration of property management contracts, which are usually one year, although some companies offer month-to-month agreements. He emphasizes that a licensed property manager is legally required to have a management agreement. While agreements often contain similar basic information, they may vary in specifics and pricing. Kyle introduces the "happiness guarantee" at Trudeau Property Management, allowing clients to terminate their contract with a 30-day notice if they are dissatisfied, enabling rental property owners to evaluate the service without committing to a full year.