Property Management
A Connecticut property management company enters into a management agreement with a property owner. The management agreement should specify all of the following EXCEPT:
AThe management fee structure
BThe property manager's authority to sign leases
CThe guaranteed return on investment the manager will produce✓ Correct
DThe duration of the management agreement
Explanation
Management agreements define fees, authority, duration, and responsibilities—but no property manager can lawfully guarantee a specific return on investment. Returns depend on market conditions, tenant behavior, and other factors beyond the manager's control.
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