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In this video, Kyle from Trudeau Property Management discusses property management company contracts, typically known as management agreements, which licensed property managers are required to have. Most agreements last for one year, although some can be month-to-month. Kyle highlights the potential for terminations, emphasizing that his company offers a "happiness guarantee," allowing clients to exit the contract with a 30-day notice if they are dissatisfied. This provides rental property owners the opportunity to test the management services without committing to a full year.