Property Management
A property management agreement in Minnesota is a contract between:
AThe tenant and the property manager
BThe property owner and the property management company✓ Correct
CThe local municipality and the property manager
DThe lender and the property owner
Explanation
A property management agreement is a contract between the property owner (principal) and the property management company (agent). It defines the scope of management services, compensation, authority to lease and make repairs, and other terms of the management relationship.
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