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A property management agreement outlines the relationship between a property manager and a property owner. Property managers oversee and maintain properties, often requiring a license, with only six states—Kansas, Maine, Maryland, Massachusetts, and Vermont—not mandating this. Responsibilities vary by owner preference; some prefer full management, while others want to retain control over certain tasks. Common duties include collecting rent and security deposits, handling maintenance, and quickly filling vacancies. The agreement should detail management charges and the specific roles expected of the property manager to ensure clarity and alignment between both parties.
