Property Management
A property manager's primary fiduciary duty runs to:
AThe tenant, because the tenant occupies the property
BThe property owner (principal) who employs the manager✓ Correct
CThe California DRE, as the licensing authority
DBoth the owner and tenant equally
Explanation
A property manager is an agent of the owner and owes fiduciary duties — loyalty, obedience, disclosure, confidentiality, accounting, and reasonable care — to the owner as the principal. While managers must treat tenants fairly and comply with the law, their primary fiduciary obligation is to the owner.
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