Which of the following is NOT typically included in a management agreement?

The correct answer is identifying the duration of the lease, as this detail is usually not included in a management agreement. A management agreement typically focuses on the roles and responsibilities of the property manager and the owner, detailing aspects such as the description of the property, the management fees the owner will pay, and the services that the manager will provide.

The duration of the lease pertains to the rental contract between the landlord and tenant, which is separate from the management agreement. The management agreement outlines the terms of the relationship between the owner and the manager, rather than the specifics of tenant occupancy or lease arrangements. Understanding this distinction is essential for those pursuing a property management license, as it highlights the different legal documents involved in property management.