Which one of the following is NOT required to be included in a written property management agreement?

The correct answer is that the owner's liability insurance certificate is not required to be included in a written property management agreement. A property management agreement should focus on outlining the terms under which the property manager will operate, including critical details that define the working relationship between the owner and the property manager.

Including the date of the agreement ensures both parties understand when the terms become effective. The address or legal description of the property is essential as it identifies the specific rental real estate being managed, and it is also important to have a term of agreement specified, along with the method for termination, to clarify how long the management services will last and the procedures for ending the arrangement.

While having liability insurance is vital for property management and can be a topic of discussion, it is not a requirement to be listed within the property management agreement itself. The focus of the agreement is more on the operational aspects of management rather than the insurance policies of the owner.