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A property management agreement is established between a property manager and property owner(s). Property managers oversee and maintain properties, and many states mandate that they hold a property manager or real estate license; only Kansas, Maine, Maryland, Massachusetts, and Vermont do not require this. The responsibilities of a property manager can vary based on client preferences; some owners want full management, while others prefer to retain control over certain aspects, like utility payments. Common duties typically include collecting rent and security deposits and promptly filling vacancies. Overall, property managers play a crucial role in the efficient management of residential properties.
