The management agreement must:

The management agreement must include a clear statement regarding the term of the agreement, which establishes the duration for which property management services will be provided. Specifying the term is crucial for both parties, as it outlines the timeline of the manager's responsibilities and expectations, and provides a framework for renewal or termination of the agreement.

This requirement ensures that there is a mutual understanding of the length of the relationship between the property owner and the manager. Clarity in terms helps prevent disputes and misunderstandings about the duration of service, helping to maintain professional expectations throughout the agreement's life.

Including information such as the manager's national origin or providing a bonus for violations is not standard practice in management agreements and could lead to issues regarding discrimination or motivational practices that are not typically endorsed in proper management protocols. Therefore, focusing on the term of the management agreement is essential and aligns with the key components necessary for a valid and effective contract in property management.