Property Management
A property manager in Oklahoma is hired under a property management agreement. This agreement should specify:
AOnly the monthly management fee
BThe scope of the manager's authority, compensation, reporting requirements, and duration of the agreement✓ Correct
COnly the property address and owner's name
DThe maximum rent the manager may charge tenants
Explanation
A comprehensive property management agreement should specify the manager's authority, duties, compensation structure, accounting and reporting requirements, duration, and termination provisions to protect both the owner and manager.
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