What are the main components of a property management agreement?

The main components of a property management agreement are crucial in outlining the relationship between the property owner and the property manager. This agreement typically includes services provided, which detail the specific responsibilities of the property manager, such as maintenance, rent collection, and tenant relations. Additionally, the duration of the agreement is important as it defines how long the management services will be in effect, and management fees are critical, as they outline the compensation structure for the property manager's services.

This comprehensive inclusion of services, duration, and fees ensures that both parties have a clear understanding of their expectations and responsibilities, which helps prevent disputes and facilitates smooth operation of the property management process.