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A property management agreement is established between a property manager and a property owner, detailing the manager's responsibilities and fees. Property managers oversee property maintenance and operations and may be required to hold a license, with only six states not mandating this. Their duties can vary based on the owner's preferences, ranging from full management to allowing owners to retain control over certain tasks, such as paying utility bills. Generally, property managers handle rent and security deposit collection and the prompt filling of vacancies. The agreement should clearly outline these responsibilities and any associated management charges.
