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A property management agreement outlines the relationship between a property manager and a property owner, detailing the roles and responsibilities involved. Property managers oversee property maintenance and operations, and many states require them to hold a property manager or real estate license, with only six states not imposing such a requirement. The specific duties vary based on client preferences; some owners want full management, while others prefer partial control, like handling utility payments. Common responsibilities include collecting rent and security deposits, and quickly filling vacancies. This agreement is crucial for clarifying expectations and fees for property management services.
