Property Management
In Missouri, a property management agreement is a contract between:
AThe tenant and the property manager
BThe property owner (principal) and the property management company (agent)✓ Correct
CMREC and the property owner
DThe lender and the property manager
Explanation
A property management agreement creates a principal-agent relationship between the property owner and the management company. The agreement defines the manager's authority, duties, compensation, and term.
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