Property Management
A Wisconsin property manager enters into a management agreement with a property owner. This agreement should specify:
AOnly the rental rates for each unit
BThe scope of management duties, management fee, term, and authority of the manager✓ Correct
CTenant income requirements
DThe appraisal value of the property
Explanation
A property management agreement should clearly define the manager's authority and duties, the management fee structure, the agreement term, reporting requirements, and other key terms to avoid disputes and define the agency relationship.
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