What are property management agreements typically used for?

Property management agreements are primarily utilized to assign management responsibilities for a rental property. These agreements outline the duties and obligations of the property manager, establishing clear expectations for both the property owner and the manager. This includes responsibilities such as handling tenant inquiries, maintenance requests, rent collection, property inspections, and overall management of day-to-day operations.

By providing a structured framework, the agreement ensures that the property manager understands their role in maintaining the property, addressing tenant needs, and ensuring compliance with applicable laws and regulations, which ultimately protects the interests of the property owner.

The other options, while they may relate to aspects of property management, do not capture the core purpose of the property management agreement itself. Setting rental prices pertains to market analysis rather than management assignments. Determining property taxes owed and calculating property value over time are financial assessments that fall outside the scope of what a property management agreement is designed to do.