Property ManagementIntermediateAlabama Exam
A property manager who collects rents and maintains records on behalf of an owner acts as the owner's:
ASub-agent
BGeneral agentCorrect
CSpecial agent
DUniversal agent
Why General agent Is Correct
Answer B: General agent
A property manager is typically a general agent, authorized to act on the owner's behalf in an ongoing capacity for property management matters.
Exam Tip: Property Management
Property management questions cover landlord-tenant law, security deposits, and maintenance responsibilities. Know the differences between gross, net, and percentage leases.
People Also Study
Related Alabama Questions
- In Alabama, a property manager who negotiates leases and collects rent on behalf of an owner typically must have:Property Management
- A property manager collects monthly rents of $50,000 on behalf of property owners. These funds must be:Trust Funds
- A property manager who collects rents but fails to remit them to the owner is:Property Management
- A property manager in Alabama who collects rents and manages properties for others must hold:Property Management
- The management agreement between a property manager and an owner is a type of:Property Management
Key Terms to Know
Agency
A legal relationship in which a licensee (agent) acts on behalf of a principal (buyer or seller) in a real estate transaction.
Earnest MoneyA deposit made by the buyer when submitting a purchase offer, demonstrating serious intent and serving as consideration for the contract.
ContingencyA condition in a purchase contract that must be satisfied before the sale can proceed to closing.
Purchase AgreementA legally binding contract between a buyer and seller that outlines the terms and conditions of a real estate sale.
Study This Topic
Practice More Alabama Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Alabama Quiz →