Final answer:
c) Both the responsibilities of the parties and the financial arrangements
A property management agreement between Jeffrey and Pete should include both the parties' responsibilities and the financial arrangements, ensuring clarity of duties, rights, and expectations.
Step-by-step explanation:
When Jeffrey, a property manager, and Pete, a property owner, negotiate a property management agreement, the agreement should include c) Both the responsibilities of the parties and the financial arrangements. This comprehensive approach to the contract ensures that both parties are aware of their duties, rights, and expectations. It includes the property manager's responsibilities such as maintenance, tenant management, and compliance with relevant zoning regulations; the financial compensation for the property manager which covers payment terms and conditions; and the responsibilities of the property owner, which may touch upon adherence to government regulations and obligations towards the property manager.