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A property management agreement is established between a property manager and the owner of one or more properties. Property managers oversee and maintain properties, with many states mandating that they hold a property management or real estate license, though only six states do not have such requirements. The responsibilities of a property manager vary based on client preferences; some owners delegate all tasks, while others retain control over certain aspects, such as utility payments. Common duties include collecting rent and security deposits, managing tenant relations, and addressing maintenance issues. The contract should clearly outline management charges and specific responsibilities.
