What should be included in a written property management contract?

The correct answer emphasizes the importance of delineating the operational responsibilities of the property manager within a written property management contract. This aspect is crucial because it ensures that both the property owner and the property manager have a clear understanding of their respective roles and responsibilities.

By outlining operational responsibilities, the contract helps prevent misunderstandings and disputes that could arise regarding the management of the property. These responsibilities can include tasks such as collecting rent, maintaining the property, conducting repairs, and handling tenant relations, all of which are essential for effective property management.

Including details about operational responsibilities also allows for better accountability. If specific tasks are well-defined, it becomes easier to assess job performance and ensure that the property is managed according to the owner's expectations and standards.

While the other options may seem relevant, they do not capture the core function of a property management contract as effectively as outlining the responsibilities of the property manager.