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A property management agreement outlines the relationship between a property manager and property owner, detailing roles, charges, and contractual elements. Property managers oversee and maintain properties and are often required to hold a license, which varies by state; only six states do not mandate a license. Their responsibilities can differ based on client needs—some owners delegate all tasks to managers, while others retain control over certain aspects like utility payments. Common duties include collecting rent and security deposits and quickly filling vacancies. By understanding these elements, owners can ensure effective management of their properties.
