What essential information must a property management agreement include?

The inclusion of the address or legal description of the owner's rental property in a property management agreement is critical as it establishes the exact property that the management company will oversee. This detail ensures clarity in the responsibilities and services outlined in the agreement, allowing both parties to understand which property is being managed. It also provides a reference point for any legal matters that may arise and helps prevent confusion about the property in question.

While the other options might seem relevant, they do not hold the same foundational importance in a property management agreement. The monthly rent amount, for example, while important, is subject to change and not as fundamental as identifying the property itself. The social security number of the owner raises privacy concerns and is not typically necessary in the management contract. A list of all tenants may not need to be included in the initial management agreement and could change over time, thus it is less essential than specifying the property details.