Property Management
A Florida property owner hires a management company. The management agreement should clearly define:
AOnly the management fee
BScope of management services, fees, responsibilities, term, and authority to make decisions✓ Correct
COnly the owner's duties
DOnly the tenant screening criteria
Explanation
A comprehensive property management agreement should define: scope of services, management fees, term, renewal provisions, manager's authority (lease approval thresholds, repair authority), reporting requirements, and the respective duties of owner and manager.
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