A landlord is a property owner who rents out their property to a tenant in exchange for rent. They have the right to lease property for a specific time period while earning rental income.
A listing agreement, also known as a listing contract, is a legally binding contract between a property owner and a real estate broker or agent that details the terms and conditions under which the broker will market, promote, and sell the property.
A management agreement is a contract between a property owner and a manager, detailing responsibilities for leasing, operating, and managing the property. It often includes a fee structure ranging from 2-6% of the rental income.
The management fee is the cost charged by a professional property management company for overseeing and managing rental properties. It is typically a fixed percentage of the total rental income generated by the managed property.
