Property Management
An investor owns a commercial strip mall in Connecticut managed by a property management company. The management agreement typically grants the manager authority to:
ASell the property on the owner's behalf
BExecute leases within approved parameters, collect rents, and authorize routine repairs✓ Correct
CRefinance the property's mortgage
DMake major capital improvements without owner approval
Explanation
A standard commercial property management agreement authorizes the manager to sign leases within approved rent and term parameters, collect rents, pay operating expenses, and authorize routine repairs up to a specified dollar limit.
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